GBP/USD – 1H – SELL

Next a ‘Rising Wedge Chart Pattern’ chart layout is found. The chart forms ‘Rising Wedge Chart Pattern’. this is a bearish pattern signal. The currency pair is likely to fall.

The pair British Pound/US Dollar (GBP/USD) moves from the ascending trendline downwards

A descending movement down to the next support line at 1.36293 is likely expected.

Caution: A possible change in the direction of the resistance level at 1.36712 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is likely expected. Current target is 1.36308396 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of support at 1.36712 could occur.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Two Crows’ candle pattern is detected. The candles form ‘Two Crows’. which 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 chance of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).

1.36712 – 1.36194 – 1.35702 – 1.36293 – 1.35235 – 1.35126 — 45.604565069002 – 44.309359686787 — 66.666666666667 – 33.333333333333 – 82.537650261563 – 64.491390068996

Trading Signals: FOREX – GBP – GBP/USD – USD – Two Crows – Rising Wedge Chart Pattern – –