GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 1.32900 is likely expected.
Caution: A possible change in the direction of the resistance level at 1.33387 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three Black Crows’ candle chart pattern is discovered. The chart shows ‘Three Black Crows’. which is a bearish chart scenario. 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 | 1.33067 |
| 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