GBP/USD – 4H – SELLThe pair British Pound/US Dollar (GBP/USD) jumps from the bearish trendline downwards
A continuation of the downtrend down to the next support line at is certain.
Caution: A possible trend reversal in the direction of the resistance level at 1.25754 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Black Crows’ candle pattern is existing. The candles show ‘Three Black Crows’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27283 |
| 2nd High | 1.26073 |
| Next High | 1.25754 |
| Current Price | 1.22085 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows