GBP/USD – 1H – SELL

The combination British Pound/US Dollar (GBP/USD) jumps from the bearish trendline down.

A continuation of the downtrend down to the next support level at 1.26067 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.26984 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.26493216 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of support at 1.26984 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Three Black Crows’ candle chart pattern is existing. The chart forms ‘Three Black Crows’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.

Download GBP/USD Signal Image

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows