GBP/USD – 4H – SELLThe pair British Pound/US Dollar (GBP/USD) goes from the descending trendline downwards
A continuation of the bearish trend downwards to the next support level at will persist.
Caution: A possible trend reversal in the direction of resistance at 1.25754 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ candlestick chart pattern is found. The candles form ‘Three Black Crows’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27283 |
| 2nd High | 1.26073 |
| Next High | 1.25754 |
| Current Price | 1.21635 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows