GBP/USD – 4H – SELL

The currency pair British Pound/US Dollar (GBP/USD) goes from the ascending trendline down.

A descent downwards to the next support line at 1.33699 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at could happen.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Three Black Crows’ candle pattern is discovered. The chart forms ‘Three Black Crows’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.

1.36321 – 1.36165 – 1.35594 – 1.33699 – 1.33825 – 1.35161

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows – Inverse Head and Shoulder chart pattern