Sell GBP/USD – 1H – SELL

The combination British Pound/US Dollar (GBP/USD) jumps from the bearish trendline down.

A continuation of the downward movement downwards to the next support level at 1.34639 will continue.

Caution: A possible change in the direction of the resistance line at 1.35810 is within the realm of possibility.
Consider stop-loss settings accordingly.

Additionally a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which could be a negative signal. The currency pair could go down.

Additionally a ‘Three Outside Down’ candlestick pattern is detected. The candles form ‘Three Outside Down’. 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 probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

Support & Resistance Price Range*
3rd High
2nd High 1.36165
Next High 1.35810
Current Price 1.35376
Next Low 1.34639
2nd Low 1.34559
3rd Low 1.34475

1.35810 – 1.36165 – 1.35797 – 1.34639 – 1.34559 – 1.35241

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