GBP/USD – 1H – SELLThe combination British Pound/US Dollar (GBP/USD) moves from the ascending trendline down.
A descent downwards to the next support at 1.26296 will continue.
Caution: A possible change in the direction of the resistance level at 1.26993 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Three Black Crows’ candle pattern is existing. The candles show ‘Three Black Crows’. which is a bearish signal. 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 | 1.27459 |
| 2nd High | 1.27222 |
| Next High | 1.26993 |
| Current Price | 1.26963 |
| Next Low | 1.26296 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows