GBP/USD – 4H – SELL

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

A bearish descent down to the next support line at 1.33699 will continue.

Caution: A possible trend reversal in the direction of the resistance zone at 1.37703 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. this is usually a bearish signal. The pair is likely to go down.

Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend will continue. Current target is 1.36758056 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support line at 1.37703 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Additionally a ‘Two Crows’ chart pattern is found. The chart shows ‘Two Crows’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).

1.37703 – 1.36321 – 1.36165 – 1.33699 – 1.33825 – 1.35161

Trading Signals: FOREX – GBP – GBP/USD – USD – Two Crows – Double top retreat up