GBP/USD – 1H – SELLThe combination British Pound/US Dollar (GBP/USD) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 1.33899 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 1.35302 should always be considered.
Consider stop-loss settings accordingly.
Besides a ‘Support Level’ indicator signal is discovered. The indicator shows ‘Support Level’. which could be a negative signal. The currency pair could go down.
Besides a ‘Two Crows’ candle pattern is found. The candles form ‘Two Crows’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35645 |
| 2nd High | 1.35437 |
| Next High | 1.35302 |
| Current Price | 1.33782 |
| Next Low | 1.33899 |
| 2nd Low | 1.33699 |
| 3rd Low | 1.33344 |
1.35302 – 1.34926 – 1.35437 – 1.34826 – 1.34162 – 1.3434 — 19.908583479454 – 17.810819567623 — 5.180809994955 – 5.8171682498534 – 10.549836965533 – 8.5923236683771
Trading Signals: FOREX – GBP – GBP/USD – USD – Two Crows – – –