GBP/USD – 30M – SELLMoreover a ‘Rising Wedge Chart Pattern’ chart layout is existing. The chart picture forms ‘Rising Wedge Chart Pattern’. which is a bearish chart scenario. The currency pair is likely to fall.
The currency pair British Pound/US Dollar (GBP/USD) goes from the bullish trendline downwards
A descending movement down to the next support at 1.36426 is certain.
Caution: A possible counter-trend in the direction of resistance at 1.37127 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘MACD crosses below signal’ indicator layout is detected. The indicator shows ‘MACD crosses below signal’. which could be a negative chart signal. The currency pair is likely to fall.
Moreover a ‘Three Black Crows’ chart pattern is discovered. The candles form ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to fall. 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 | 1.37884 |
| 2nd High | 1.37522 |
| Next High | 1.37127 |
| Current Price | 1.36760 |
| Next Low | 1.36426 |
| 2nd Low | 1.34819 |
| 3rd Low | 1.34015 |
1.37127 – 1.36817 – 1.35083 – 1.36426 – 1.34819 – 1.34015 —
1.36791 – 1.36953 —
49.075956324048 – 60.225317427682 —
– —
1.37127 – 1769450400
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows – Rising Wedge Chart Pattern – – – – – – – –