GBP/USD – 30M – SELL

The currency pair British Pound/US Dollar (GBP/USD) moves from the descending trendline downwards

A continuation of the bearish trend downwards to the next support level at 1.37034 is likely expected.

Caution: A possible counter-trend in the direction of resistance at 1.37522 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. this is usually a bearish chart signal. The currency pair is likely to fall.

And also a ‘Three Outside Down’ candle pattern is existing. The chart shows ‘Three Outside Down’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.37522 – 1.37884 – 1.37488 – 1.37034 – 1.36739 – 1.36827

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down – Double bottom retreat down