GBP/USD – 4H – SELL

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

A continuation of the downtrend downwards to the next support level at 1.34008 will persist.

Caution: A possible reversal of the trend in the direction of the resistance zone at 1.38686 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Current target is 1.360345 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of support at 1.38686 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Two Crows’ candlestick pattern is detected. The candles show ‘Two Crows’. which 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 ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).

1.38686 – 1.34911 – 1.34944 – 1.34008 – 1.33383 – 1.33893 —
1.38473 – 1.37875 —
65.67078600943 – 52.067806645155 —
– —
1.38686 – 1769544000

Trading Signals: FOREX – GBP – GBP/USD – USD – Two Crows – – – – – – – – –