GBP/USD – 1H – SELLThe pair British Pound/US Dollar (GBP/USD) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support line at 1.23521 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.25401 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three Black Crows’ candle chart pattern is existing. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26073 |
| 2nd High | 1.25690 |
| Next High | 1.25401 |
| Current Price | 1.25116 |
| Next Low | 1.23521 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows