GBP/USD – 1H – SELL

Also there is a ‘Rising Wedge Chart Pattern’ chart pattern is existing. The chart shows ‘Rising Wedge Chart Pattern’. which is a negative signal. The pair is likely to go down.

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

A bearish trend downwards to the next support level at 1.34098 will continue.

Caution: A possible reversal of the trend in the direction of the resistance line at 1.34911 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘%K crosses below %D’ indicator signal is discovered. The indicator shows ‘%K crosses below %D’. which is often a bearish signal. The currency pair is likely to fall.

Also there is a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. this is usually a bearish signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Current target is 1.34147 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.34911 is also possible.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Three Outside Down’ chart pattern is detected. The chart forms ‘Three Outside Down’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.34911 – 1.34346 – 1.34128 – 1.34098 – 1.33383 – 1.33621 —
1.34887 – 1.34701 —
75.032634009186 – 63.280154670324 —
– —
1.34911 – 1768903200

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down – Rising Wedge Chart Pattern – – – – – – – –