GBP/USD – 30M – SELL

The combination British Pound/US Dollar (GBP/USD) goes from the bearish trendline downwards

A continuation of the bearish trend down to the next support at 1.34150 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.34761 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.3415 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.34761 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Tweezers Top’ candlestick pattern is found. The candles show ‘Tweezers Top’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).

1.34761 – 1.36220 – 1.35924 – 1.34150 – 1.35570 – 1.35734

Trading Signals: FOREX – GBP – GBP/USD – USD – Tweezers Top