GBP/USD – 1H – SELLThe combination British Pound/US Dollar (GBP/USD) goes from the descending trendline down.
A continuation of the bearish trend downwards to the next support level at 1.24744 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 1.26136 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three Black Crows’ candlestick pattern is detected. The candles show ‘Three Black Crows’. this is a bearish chart scenario. 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 | 1.27253 |
| 2nd High | 1.26666 |
| Next High | 1.26136 |
| Current Price | 1.25330 |
| Next Low | 1.24744 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows