GBP/USD – 30M – SELL

The pair British Pound/US Dollar (GBP/USD) goes from the bullish trendline downwards

A descent down to the next support level at 1.31237 is expected.

Caution: A possible counter-trend in the direction of resistance at 1.32135 should always be considered.
Consider stop-loss settings accordingly.

Moreover a ‘%K crosses below %D’ indicator layout is discovered. The indicator shows ‘%K crosses below %D’. which is often a bearish chart scenario. The currency pair is likely to fall.

Moreover a ‘Three Outside Down’ candlestick pattern is detected. The chart shows ‘Three Outside Down’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.31973 – 1.32135 – 1.31152 – 1.31237 – 1.31528 – 1.3095 —
1.31882 – 1.32370 —
54.068544843347 – 64.111303715027 —
– —
1.31973 – 1764144000

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