GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) goes from the bearish trendline downwards
A continuation of the downward movement down to the next support line at 1.3578 will continue.
Caution: A possible change in the direction of the resistance line at 1.3632 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Two Crows’ candle chart pattern is discovered. The chart forms ‘Two Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36575 |
| 2nd High | 1.36429 |
| Next High | 1.3632 |
| Current Price | 1.35507 |
| Next Low | 1.3578 |
| 2nd Low | 1.35343 |
| 3rd Low | 1.35132 |
1.3632 – 1.36079 – 1.36429 – 1.3578 – 1.35343 – 1.35132 —
1.35754 – 1.35560 —
28.782687718109 – 33.090112296546 —
– —
1.3632 – 1778176800
Trading Signals: FOREX – GBP – GBP/USD – USD – Two Crows – – – – – – – – –