GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) jumps from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.33451 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is expected. Current target is 1.32598 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support zone at 1.33451 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative signal. The currency pair could go down.
And also a ‘Three Black Crows’ candle pattern is existing. The candles form ‘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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34205 |
| 2nd High | 1.34141 |
| Next High | 1.33451 |
| Current Price | 1.32889 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.33451 – 1.34141 – 1.34205 – 1.32598 – 1.32743 – 1.33086
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows