GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) goes from the bearish trendline down.
A continuation of the downward movement down to the next support line at 1.32900 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.33387 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Three Black Crows’ chart pattern is discovered. The chart forms ‘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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34236 |
| 2nd High | 1.33901 |
| Next High | 1.33387 |
| Current Price | 1.33141 |
| Next Low | 1.32900 |
| 2nd Low | 1.32644 |
| 3rd Low | 1.32471 |
1.33387 – 1.33901 – 1.34236 – 1.32900 – 1.32644 – 1.32471
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows