GBP/USD – 4H – SELL

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

A continuation of the downtrend downwards to the next support at 1.30096 is certain.

Caution: A possible change in the direction of the resistance level at 1.32153 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘%K crosses below %D’ indicator layout is existing. The indicator shows ‘%K crosses below %D’. which could be a negative signal. The currency pair could go down.

Besides a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. which could be a negative chart scenario. The currency pair is likely to fall.

Besides a ‘Three Outside Down’ candle chart pattern is existing. The candles form ‘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 success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.32153 – 1.31907 – 1.33691 – 1.30096 – 1.30963 – 1.32868 —
1.30615 – 1.30953 —
28.084546321847 – 44.792820507542 —
– —
1.32153 – 1763049600

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down – Double top chart pattern – – – –