GBP/USD – 4H – SELLThe combination British Pound/US Dollar (GBP/USD) moves from the ascending trendline downwards
A descending movement downwards to the next support line at 1.32024 will persist.
Caution: A possible counter-trend in the direction of resistance at could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Black Crows’ candlestick pattern is detected. The candles form ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.33285 |
| Next Low | 1.32024 |
| 2nd Low | 1.27079 |
| 3rd Low | 1.25594 |
1.32918 – 1.32072 – 1.29916 – 1.32024 – 1.27079 – 1.28790
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows