GBP/USD – 30M – SELL

The combination British Pound/US Dollar (GBP/USD) moves from the bullish trendline downwards

A bearish descent down to the next support level at 1.35279 is expected.

Caution: A possible change in the direction of the resistance level at 1.35591 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Three Outside Down’ candle pattern is found. The chart shows ‘Three Outside Down’. which is a negative chart scenario. The currency 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).

1.3548 – 1.35017 – 1.34908 – 1.35279 – 1.34138 – 1.34336 —
1.35570 – 1.35574 —
72.877382917928 – 66.576060677652 —
– —
1.35480 – 1767654000

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