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 level at 1.26132 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.26952 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Black Crows’ chart pattern is detected. The candles show ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27202 |
| 2nd High | 1.26966 |
| Next High | 1.26952 |
| Current Price | 1.26691 |
| Next Low | 1.26132 |
| 2nd Low | 1.26127 |
| 3rd Low | 1.25975 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows