GBP/USD – 4H – SELL

In addition a ‘Rising Wedge Chart Pattern’ chart pattern is existing. The chart forms ‘Rising Wedge Chart Pattern’. this is a bearish chart scenario. The pair is likely to go down.

The combination British Pound/US Dollar (GBP/USD) jumps from the ascending trendline down.

A bearish descent down to the next support line at 1.36739 is likely expected.

Caution: A possible counter-trend in the direction of resistance at 1.37703 could happen.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Three Inside Down’ candlestick pattern is discovered. The chart forms ‘Three Inside Down’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).

1.37703 – 1.36321 – 1.36165 – 1.36739 – 1.33699 – 1.33825

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Inside Down – Rising Wedge Chart Pattern