GBP/USD – 1H – SELLThe pair British Pound/US Dollar (GBP/USD) goes from the bullish trendline down.
A descent downwards to the next support level at 1.26660 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 1.27283 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Black Crows’ candlestick pattern is detected. The candles form ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27988 |
| 2nd High | 1.27873 |
| Next High | 1.27283 |
| Current Price | 1.26964 |
| Next Low | 1.26660 |
| 2nd Low | 1.26067 |
| 3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows