GBP/USD – 30M – SELLThe pair British Pound/US Dollar (GBP/USD) jumps from the bearish trendline down.
A continuation of the downward movement downwards to the next support line at 1.32118 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.33446 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Two Crows’ candlestick chart pattern is existing. The candles form ‘Two Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.33767 |
| 2nd High | 1.33558 |
| Next High | 1.33446 |
| Current Price | 1.32957 |
| Next Low | 1.32118 |
| 2nd Low | 1.32024 |
| 3rd Low | 1.31637 |
1.33446 – 1.33558 – 1.33767 – 1.32118 – 1.32409 – 1.32797