GBP/USD – 1H – SELL

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

A descending movement down to the next support line at 1.31237 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.33691 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Three Outside Down’ candlestick chart pattern is existing. The chart forms ‘Three Outside Down’. 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 ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.32135 – 1.31174 – 1.31088 – 1.31237 – 1.3095 – 1.308 —
1.32383 – 1.32681 —
70.158845270155 – 73.719615458364 —
– —
1.32135 – 1764108000

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