GBP/USD – 30M – SELLThe pair British Pound/US Dollar (GBP/USD) moves from the ascending trendline down.
A descent downwards to the next support at 1.25663 will continue.
Caution: A possible change in the direction of the resistance zone at 1.26824 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three Black Crows’ chart pattern is detected. The candles show ‘Three Black Crows’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27142 |
| 2nd High | 1.26940 |
| Next High | 1.26824 |
| Current Price | 1.26595 |
| Next Low | 1.25663 |
| 2nd Low | 1.25246 |
| 3rd Low | 1.25067 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows