GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) moves from the bullish trendline down.
A descending movement downwards to the next support at 1.26296 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 1.27211 is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Three Line Strike – Bearish’ chart pattern is found. The chart shows ‘Three Line Strike – Bearish’. 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 Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27459 |
| 2nd High | 1.27222 |
| Next High | 1.27211 |
| Current Price | 1.27004 |
| Next Low | 1.26296 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25663 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Line Strike – Bearish