GBP/USD – 4H – SELLThe currency pair British Pound/US Dollar (GBP/USD) moves from the descending trendline down.
A continuation of the bearish trend down to the next support level at 1.34013 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.35302 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.
Next a ‘Three Black Crows’ chart pattern is detected. The chart forms ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.3536 |
| 2nd High | 1.35339 |
| Next High | 1.35302 |
| Current Price | 1.35072 |
| Next Low | 1.34013 |
| 2nd Low | 1.33113 |
| 3rd Low | 1.32871 |
1.35302 – 1.35339 – 1.34459 – 1.34013 – 1.33113 – 1.33417 —
1.34423 – 1.35674 —
37.285636018969 – 62.749883280498 —
– —
1.35302 – 1767096000
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows – Double top chart pattern – – – – – – – –