GBP/USD – 1H – SELLThe combination British Pound/US Dollar (GBP/USD) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at is expected.
Caution: A possible change in the direction of resistance at 1.24938 could happen.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.23208 at the Fibonacci level 0-Level. Caution: A possible change in the direction of support at 1.24938 could happen.
Consider stop-loss settings accordingly.
And also a ‘Three Black Crows’ candle pattern is discovered. The chart shows ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26073 |
| 2nd High | 1.25754 |
| Next High | 1.24938 |
| Current Price | 1.22587 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows