GBP/USD – 1H – SELL

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

A continuation of the downtrend down to the next support line at 1.35595 is expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.36809 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which is often a bearish chart scenario. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.35595 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support zone at 1.36809 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Three Black Crows’ candlestick chart pattern is existing. The candles show ‘Three Black Crows’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.

1.36809 – 1.36755 – 1.37522 – 1.35595 – 1.35854 – 1.35623 — 30.348922270149 – 25.718125124488 — 53.475233215083 – 20.14189988175 – 77.168391269767 – 53.475233215083

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows – – –