GBP/USD – 1H – SELL

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

A continuation of the downtrend downwards to the next support level at 1.36739 is certain.

Caution: A possible change in the direction of the resistance line at 1.37522 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is found. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. this is usually a bearish signal. The currency pair could go down.

Additionally a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. this is usually a bearish signal. The pair is likely to go down.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.36326934 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of support at 1.37522 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Three Outside Down’ candle pattern is found. The chart forms ‘Three Outside Down’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.37522 – 1.37884 – 1.37403 – 1.37034 – 1.36739 – 1.36827

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down – Double bottom chart pattern