GBP/USD – 30M – SELL

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

A continuation of the downward movement downwards to the next support level at 1.25067 is considered certain.

Caution: A possible reversal of the trend in the direction of resistance at 1.26666 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-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 1.25619 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support zone at 1.26666 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Three Outside Down’ chart pattern is discovered. The chart forms ‘Three Outside Down’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

Download GBP/USD Signal Image

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down