GBP/USD – 1H – SELL

The pair British Pound/US Dollar (GBP/USD) goes from the descending trendline downwards

A continuation of the downtrend down to the next support line at 1.32528 will continue.

Caution: A possible trend reversal in the direction of resistance at 1.34027 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. this is usually a bearish chart scenario. The pair is likely to go down.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 1.33036036 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of support at 1.34027 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Two Crows’ candlestick pattern is discovered. The chart shows ‘Two Crows’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).

1.34027 – 1.33696 – 1.34316 – 1.32528 – 1.33138 – 1.34448 —
1.33706 – 1.33845 —
52.526222078229 – 58.985043800587 —
– —
1.34027 – 1772629200

Trading Signals: FOREX – GBP – GBP/USD – USD – Two Crows – Rising Wedge Chart Pattern – – – – – – – –