GBP/USD – 1H – SELLThe currency pair British Pound/US Dollar (GBP/USD) moves from the bearish trendline downwards
A continuation of the downward movement downwards to the next support level at 1.3586 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.37 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Two Crows’ candle pattern is discovered. The chart shows ‘Two Crows’. which 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 chance of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37875 |
| 2nd High | 1.37327 |
| Next High | 1.37 |
| Current Price | 1.36768 |
| Next Low | 1.3586 |
| 2nd Low | 1.35081 |
| 3rd Low | 1.34015 |
1.37 – 1.3623 – 1.37327 – 1.3586 – 1.35081 – 1.365 —
1.36837 – 1.36922 —
58.178973073704 – 60.938946988098 —
– —
1.37 – 1770670800
Trading Signals: FOREX – GBP – GBP/USD – USD – Two Crows – – – – – – – – –