GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) jumps from the bullish trendline down.
The bearish trend downwards to the next support level at 1.26794 is expected.
Caution: A possible counter-trend in the direction of resistance at 1.27498 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Black Crows’ candlestick chart pattern is discovered. The chart shows ‘Three Black Crows’. which is a negative 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 | 1.28732 |
| 2nd High | 1.27686 |
| Next High | 1.27498 |
| Current Price | 1.26792 |
| Next Low | 1.26794 |
| 2nd Low | 1.26448 |
| 3rd Low | 1.25663 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows