GBP/USD – 1H – SELLThe currency pair British Pound/US Dollar (GBP/USD) moves from the descending trendline downwards
A continuation of the downward movement down to the next support level at 1.34826 will continue.
Caution: A possible change in the direction of the resistance line at 1.35302 is also possible.
Consider stop-loss settings accordingly.
Moreover a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.
Moreover a ‘Two Crows’ candle pattern is found. The chart shows ‘Two Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35645 |
| 2nd High | 1.35437 |
| Next High | 1.35302 |
| Current Price | 1.35122 |
| Next Low | 1.34826 |
| 2nd Low | 1.34162 |
| 3rd Low | 1.33899 |
1.34579 – 1.35302 – 1.34926 – 1.34826 – 1.34162 – 1.3434 — 64.448111668394 – 59.98481783142 — 46.380848954153 – 36.570817004265 – 65.182492091222 – 50.337598564616
Trading Signals: FOREX – GBP – GBP/USD – USD – Two Crows – – –