GBP/USD – 30M – SELLThe pair British Pound/US Dollar (GBP/USD) jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support at 1.34340 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.34926 could occur.
Consider stop-loss settings accordingly.
There is also a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. which is often a bearish chart signal. The pair is likely to go down.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Current target is 1.34558772 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of support at 1.34926 could occur.
Consider stop-loss settings accordingly.
There is also a ‘Three Outside Down’ candle chart pattern is detected. The candles show ‘Three Outside Down’. which is a negative signal. The currency pair is likely to fall. 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).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35267 |
| 2nd High | 1.35203 |
| Next High | 1.34926 |
| Current Price | 1.34730 |
| Next Low | 1.34340 |
| 2nd Low | 1.33899 |
| 3rd Low | 1.33699 |
1.34926 – 1.34900 – 1.35203 – 1.34340 – 1.34446 – 1.34832 — 51.46541673472 – 47.506822508047 — 64.069672281609 – 50.730028829164 – 43.07914767349 – 54.394609424397
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down – – –