GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) goes from the bearish trendline down.
A continuation of the downward movement downwards to the next support level at 1.25093 is likely expected.
Caution: A possible trend reversal in the direction of the resistance level at 1.25416 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Black Crows’ candlestick chart pattern is existing. The candles show ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26136 |
| 2nd High | 1.25878 |
| Next High | 1.25416 |
| Current Price | 1.25320 |
| Next Low | 1.25093 |
| 2nd Low | 1.24744 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows