GBP/USD – 1H – SELLThe currency pair British Pound/US Dollar (GBP/USD) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support level at 1.25045 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.25925 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 1.25275736 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 1.25925 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Black Crows’ candlestick pattern is existing. The candles show ‘Three Black Crows’. which 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 | 1.26666 |
| 2nd High | 1.26136 |
| Next High | 1.25925 |
| Current Price | 1.25123 |
| Next Low | 1.25045 |
| 2nd Low | 1.25010 |
| 3rd Low | 1.24744 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows