GBP/USD – 30M – SELLThe currency pair British Pound/US Dollar (GBP/USD) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at 1.36827 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.37403 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Outside Down’ candlestick chart pattern is detected. The chart shows ‘Three Outside Down’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37703 |
| 2nd High | 1.37523 |
| Next High | 1.37403 |
| Current Price | 1.36855 |
| Next Low | 1.36827 |
| 2nd Low | 1.35903 |
| 3rd Low | 1.33699 |
1.37403 – 1.37523 – 1.37703 – 1.36827 – 1.37199 – 1.37162
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down –