GBP/USD – 1H – SELLThe currency pair British Pound/US Dollar (GBP/USD) moves from the ascending trendline downwards
A bearish descent downwards to the next support at 1.25093 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 1.26136 could occur.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ chart pattern is discovered. The candles show ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to fall. 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 | 1.25238 |
| Next Low | 1.25093 |
| 2nd Low | 1.24744 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows