GBP/USD – 4H – SELLThe combination British Pound/US Dollar (GBP/USD) jumps from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support line at 1.24870 is likely expected.
Caution: A possible trend reversal in the direction of the resistance level at 1.27283 could be enabled.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ chart pattern is detected. The chart shows ‘Three Black Crows’. which is a negative signal. The 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 | 1.28109 |
| 2nd High | 1.27873 |
| Next High | 1.27283 |
| Current Price | 1.25246 |
| Next Low | 1.24870 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows