GBP/USD – 30M – SELL

The pair British Pound/US Dollar (GBP/USD) moves from the bearish trendline down.

A continuation of the downward movement down to the next support level at 1.36827 is likely expected.

Caution: A possible change in the direction of the resistance level at 1.37523 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish signal. The currency pair could go down.

Besides a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 1.36803 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support zone at 1.37523 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Three Outside Down’ candle chart pattern is existing. The candles show ‘Three Outside Down’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.37523 – 1.37703 – 1.37647 – 1.36827 – 1.37199 – 1.37162

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down –