GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) jumps from the bearish trendline down.
A continuation of the downward movement down to the next support at 1.26378 will persist.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.26969 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Black Crows’ candlestick chart pattern is found. The chart shows ‘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 chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27459 |
| 2nd High | 1.27222 |
| Next High | 1.26969 |
| Current Price | 1.26376 |
| Next Low | 1.26378 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25663 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows