GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) jumps from the bullish trendline downwards
A bearish descent down to the next support level at 1.25065 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 1.25690 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bearish Belt Hold’ chart pattern is discovered. The chart shows ‘Bearish Belt Hold’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26136 |
| 2nd High | 1.26073 |
| Next High | 1.25690 |
| Current Price | 1.25078 |
| Next Low | 1.25065 |
| 2nd Low | 1.25045 |
| 3rd Low | 1.25010 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Belt Hold