GBP/USD – 1H – SELLThe combination British Pound/US Dollar (GBP/USD) goes from the bearish trendline down.
A continuation of the downward movement down to the next support line at 1.35466 will persist.
Caution: A possible change in the direction of the resistance line at 1.3632 should always be considered.
Consider stop-loss settings accordingly.
Next a ‘Two Crows’ candle pattern is discovered. The chart shows ‘Two Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood 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 | 1.36233 |
| Next Low | 1.35466 |
| 2nd Low | 1.35132 |
| 3rd Low | 1.35119 |
1.3632 – 1.36429 – 1.36575 – 1.35466 – 1.3578 – 1.35132 —
1.35897 – 1.36302 —
54.01998449841 – 65.545111559841 —
– —
1.3632 – 1778176800
Trading Signals: FOREX – GBP – GBP/USD – USD – Two Crows – – – – – – – – –