GBP/USD – 30M – SELLThe currency pair British Pound/US Dollar (GBP/USD) jumps from the bullish trendline downwards
A bearish movement down to the next support line at 1.26296 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.27686 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Three Black Crows’ candle pattern is detected. The chart shows ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.29253 |
| 2nd High | 1.28732 |
| Next High | 1.27686 |
| Current Price | 1.27413 |
| Next Low | 1.26296 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25663 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows