GBP/USD – 30M – SELL

The currency pair British Pound/US Dollar (GBP/USD) jumps from the descending trendline down.

A continuation of the downward movement down to the next support level at 1.33699 is expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.35645 should always be considered.
Consider stop-loss settings accordingly.

There is also a ‘Support Level’ indicator layout is detected. The indicator shows ‘Support Level’. which could be a negative signal. The currency pair could go down.

Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Current target is 1.35204 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.35645 should always be considered.
Consider stop-loss settings accordingly.

There is also a ‘Three Outside Down’ candlestick pattern is existing. The candles show ‘Three Outside Down’. 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 probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.35645 – 1.35635 – 1.35747 – 1.35306 – 1.35471 – 1.35451 — 31.21127237371 – 27.118099927029 — 16.339942080642 – 10.731788817108 – 16.432701156596 – 12.960694042227

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down – – –