GBP/USD – 1H – SELLThe combination British Pound/US Dollar (GBP/USD) moves from the descending trendline downwards
A continuation of the downward movement down to the next support line at 1.25065 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 1.26073 could occur.
Consider stop-loss settings accordingly.
Next a ‘Three Black Crows’ candle chart pattern is existing. The chart forms ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26666 |
| 2nd High | 1.26136 |
| Next High | 1.26073 |
| Current Price | 1.25312 |
| Next Low | 1.25065 |
| 2nd Low | 1.25045 |
| 3rd Low | 1.25010 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows