GBP/USD – 1H – SELLThe pair British Pound/US Dollar (GBP/USD) goes from the bearish trendline down.
A continuation of the downward movement down to the next support at 1.26296 is certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.27873 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ candle pattern is detected. The chart shows ‘Three Black Crows’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28109 |
| 2nd High | 1.27988 |
| Next High | 1.27873 |
| Current Price | 1.26609 |
| Next Low | 1.26296 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows