GBP/USD – 1H – SELL

Additionally a ‘Symmetrical Triangle Chart Pattern’ chart formation is found. The chart shows ‘Symmetrical Triangle Chart Pattern’. this is a bearish chart scenario. The pair is likely to go down.

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

The bearish trend down to the next support line at 1.3578 is expected.

Caution: A possible reversal of the trend in the direction of the resistance zone at 1.36429 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘MACD crosses below signal’ indicator signal is discovered. The indicator shows ‘MACD crosses below signal’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 1.35847 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.36429 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘Three Outside Down’ candle pattern is discovered. The chart shows ‘Three Outside Down’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.36429 – 1.36575 – 1.35275 – 1.3578 – 1.35132 – 1.35119 —
1.36240 – 1.36306 —
64.458783939056 – 65.684717765468 —
– —
1.36429 – 1778072400

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down – Symmetrical Triangle Chart Pattern – – – – – – – –