GBP/USD – 1H – SELL

The combination British Pound/US Dollar (GBP/USD) jumps from the descending trendline downwards

A continuation of the downward movement down to the next support level at 1.32565 will persist.

Caution: A possible change in the direction of the resistance level at 1.33778 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Support Level’ indicator signal is found. The indicator is ‘Support Level’. this is usually a bearish chart scenario. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.32456 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support line at 1.33778 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ chart pattern is found. The candles show ‘Three Outside Down’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.33778 – 1.34269 – 1.34359 – 1.33098 – 1.33517 – 1.32565 —
1.33184 – 1.32683 —
44.237712553352 – 30.184909925746 —
– —
1.33778 – 1774544400

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down – – – – – – – – –