GBP/USD – 4H – SELLThe currency pair British Pound/US Dollar (GBP/USD) jumps from the bearish trendline downwards
A continuation of the downtrend down to the next support level at 1.34162 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.35437 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative signal. The currency pair is likely to fall.
Moreover a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. this is usually a bearish chart signal. The currency pair could go down.
Moreover a ‘Three Black Crows’ candlestick chart pattern is discovered. The candles form ‘Three Black Crows’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37884 |
| 2nd High | 1.36809 |
| Next High | 1.35437 |
| Current Price | 1.33782 |
| Next Low | 1.34162 |
| 2nd Low | 1.33899 |
| 3rd Low | 1.33699 |
1.35437 – 1.36809 – 1.37884 – 1.34162 – 1.33899 – 1.35204 — 32.331124436493 – 28.408681127774 — 49.561488360095 – 21.878828915973 – 75.601878721438 – 51.445046323166
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows – – –