GBP/USD – 30M – SELLAnd also a ‘Double top chart pattern’ chart formation is existing. The chart forms ‘Double top chart pattern’. which is a negative chart scenario. The pair is likely to go down.
The pair British Pound/US Dollar (GBP/USD) goes from the descending trendline downwards
A continuation of the downward movement down to the next support line at 1.35241 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 1.35655 could occur.
Consider stop-loss settings accordingly.
And also a ‘Two Crows’ candlestick chart pattern is found. The chart forms ‘Two Crows’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35843 |
| 2nd High | 1.35810 |
| Next High | 1.35655 |
| Current Price | 1.35461 |
| Next Low | 1.35241 |
| 2nd Low | 1.35071 |
| 3rd Low | 1.35006 |
1.35655 – 1.35810 – 1.35634 – 1.35241 – 1.35071 – 1.35638