GBP/USD – 30M – SELLThe currency pair British Pound/US Dollar (GBP/USD) jumps from the ascending trendline downwards
A descending movement down to the next support at 1.34138 will persist.
Caution: A possible change in the direction of the resistance zone at 1.35591 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘%K cross below 0.8’ indicator signal is detected. The indicator shows ‘%K cross below 0.8’. which is often a bearish chart scenario. The pair is likely to go down.
Also there is a ‘Identical 3 Crows’ candle pattern is existing. The chart forms ‘Identical 3 Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Identical 3 Crows’ heading down is 79% (Bull Market) & 72% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36809 |
| 2nd High | 1.36712 |
| Next High | 1.35591 |
| Current Price | 1.35319 |
| Next Low | 1.34138 |
| 2nd Low | 1.34013 |
| 3rd Low | 1.33633 |
1.35017 – 1.34908 – 1.34765 – 1.34138 – 1.34336 – 1.34013 —
1.35447 – 1.35425 —
74.463388276842 – 69.999984153336 —
– —
1.35017 – 1767375000
Trading Signals: FOREX – GBP – GBP/USD – USD – Identical 3 Crows – Double top retreat up – – – – – – – –