GBP/USD – 1H – SELLThe currency pair British Pound/US Dollar (GBP/USD) jumps from the bullish trendline downwards
A bearish descent down to the next support level at 1.26716 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.27498 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three Black Crows’ candle pattern is found. The chart shows ‘Three Black Crows’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.30091 |
| 2nd High | 1.27686 |
| Next High | 1.27498 |
| Current Price | 1.26901 |
| Next Low | 1.26716 |
| 2nd Low | 1.26448 |
| 3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows