GBP/USD – 4H – SELLThe currency pair British Pound/US Dollar (GBP/USD) jumps from the bullish trendline down.
A bearish movement downwards to the next support at 1.34162 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.35493 should be noted.
Consider stop-loss settings accordingly.
In addition a ‘Two Crows’ chart pattern is existing. The chart forms ‘Two Crows’. 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 success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37884 |
| 2nd High | 1.36809 |
| Next High | 1.35493 |
| Current Price | 1.34382 |
| Next Low | 1.34162 |
| 2nd Low | 1.33899 |
| 3rd Low | 1.33699 |
1.35493 – 1.35437 – 1.36809 – 1.34162 – 1.33899 – 1.35204 — 47.309792699685 – 46.931609611793 — 56.736839253299 – 59.196040712744 – 47.889554188831 – 55.588670032302
Trading Signals: FOREX – GBP – GBP/USD – USD – Two Crows – – –