GBP/USD – 4H – SELLThe combination British Pound/US Dollar (GBP/USD) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support at 1.26171 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.28109 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Black Crows’ candlestick pattern is found. The chart shows ‘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 chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.30708 |
| 2nd High | 1.30476 |
| Next High | 1.28109 |
| Current Price | 1.26273 |
| Next Low | 1.26171 |
| 2nd Low | 1.24870 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows