GBP/USD – 30M – SELLThe pair British Pound/US Dollar (GBP/USD) jumps from the descending trendline downwards
A continuation of the downtrend down to the next support level at 1.27357 will persist.
Caution: A possible change in the direction of resistance at 1.27654 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Evening Star’ candlestick chart pattern is existing. The chart forms ‘Evening Star’. 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 success rate of a ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28109 |
| 2nd High | 1.27988 |
| Next High | 1.27654 |
| Current Price | 1.27452 |
| Next Low | 1.27357 |
| 2nd Low | 1.27165 |
| 3rd Low | 1.26296 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Evening Star