GBP/USD – 1H – SELLThe pair British Pound/US Dollar (GBP/USD) goes from the bearish trendline down.
A continuation of the downward movement down to the next support level at 1.34639 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 1.36220 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. which is often a bearish chart signal. The pair is likely to go down.
Besides a ‘Two Crows’ candlestick pattern is detected. The candles show ‘Two Crows’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.36321 |
| Next High | 1.36220 |
| Current Price | 1.34447 |
| Next Low | 1.34639 |
| 2nd Low | 1.34559 |
| 3rd Low | 1.34475 |
1.36220 – 1.36026 – 1.36321 – 1.35342 – 1.35161 – 1.35224