GBP/USD – 1H – SELL

The currency pair British Pound/US Dollar (GBP/USD) jumps from the bearish trendline down.

A continuation of the downtrend downwards to the next support line at 1.359 is certain.

Caution: A possible reversal of the trend in the direction of resistance at 1.36613 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Current target is 1.359 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.36613 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Three Black Crows’ candle pattern is detected. The chart forms ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.

1.36613 – 1.36586 – 1.36711 – 1.359 – 1.36043 – 1.36042 —
1.36310 – 1.36208 —
44.315828987864 – 35.702545037355 —
– —
1.36613 – 1771239600

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows – – – – – – – – –