GBP/USD – 1H – SELLThe currency pair British Pound/US Dollar (GBP/USD) moves from the ascending trendline downwards
The bearish trend downwards to the next support line at 1.26296 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 1.27705 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Outside Down’ candle pattern is discovered. The chart shows ‘Three Outside Down’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.30476 |
| 2nd High | 1.30091 |
| Next High | 1.27705 |
| Current Price | 1.27440 |
| Next Low | 1.26296 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down