GBP/USD – 1H – SELLThe currency pair British Pound/US Dollar (GBP/USD) jumps from the ascending trendline downwards
A bearish trend down to the next support at is likely expected.
Caution: A possible change in the direction of resistance at 1.38473 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart scenario. The currency pair could go down.
Next a ‘Three Outside Down’ candlestick pattern is existing. The chart shows ‘Three Outside Down’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.38686 |
| Next High | 1.38473 |
| Current Price | 1.37608 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.38473 – 1.38686 – 1.37127 – 1.3742 – 1.37494 – 1.36635 —
1.37990 – 1.38139 —
47.744356135988 – 51.557548500688 —
– —
1.38473 – 1769677200
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down – Double bottom chart pattern – – – – – – – –