GBP/USD – 30M – SELL

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

A continuation of the bearish trend down to the next support line at 1.37034 is certain.

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

Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart scenario. The currency pair could go down.

Next a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. this is usually a bearish chart scenario. The pair is likely to go down.

Next a ‘Tweezers Top’ chart pattern is found. The chart forms ‘Tweezers Top’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).

1.37522 – 1.37884 – 1.37488 – 1.37034 – 1.36739 – 1.36827

Trading Signals: FOREX – GBP – GBP/USD – USD – Tweezers Top – Double bottom chart pattern