GBP/USD – 30M – SELLFurthermore a ‘Double bottom retreat down’ chart layout is found. The formation shows ‘Double bottom retreat down’. this is a bearish chart scenario. The currency pair is likely to fall.
The combination British Pound/US Dollar (GBP/USD) jumps from the bullish trendline downwards
A descending movement downwards to the next support level at 1.35198 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.35898 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ chart pattern is found. The candles show ‘Three Black Crows’. this is a bearish 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%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36577 |
| 2nd High | 1.35943 |
| Next High | 1.35898 |
| Current Price | 1.35568 |
| Next Low | 1.35198 |
| 2nd Low | 1.34165 |
| 3rd Low | 1.34162 |
1.35629 – 1.35898 – 1.34587 – 1.35198 – 1.35267 – 1.34165 — 49.02703411162 – 43.764880723882 — 0 – 0 – 5.3016720986483 – 0.57657449188168
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows – Double bottom retreat down – –