GBP/USD – 1H – SELLThe currency pair British Pound/US Dollar (GBP/USD) goes from the ascending trendline down.
The bearish trend downwards to the next support line at 1.24744 will persist.
Caution: A possible counter-trend in the direction of resistance at 1.26136 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Three Black Crows’ candlestick pattern is detected. The candles show ‘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 probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27253 |
| 2nd High | 1.26666 |
| Next High | 1.26136 |
| Current Price | 1.25587 |
| Next Low | 1.24744 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows