GBP/USD – 30M – SELLThe currency pair British Pound/US Dollar (GBP/USD) goes from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 1.25184 is likely expected.
Caution: A possible change in the direction of the resistance line at 1.25501 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Outside Down’ candle chart pattern is detected. The candles form ‘Three Outside Down’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.25878 |
| 2nd High | 1.25743 |
| Next High | 1.25501 |
| Current Price | 1.25073 |
| Next Low | 1.25184 |
| 2nd Low | 1.25093 |
| 3rd Low | 1.24744 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down