GBP/USD – 30M – SELLThe currency pair British Pound/US Dollar (GBP/USD) jumps from the descending trendline downwards
A continuation of the downward movement downwards to the next support level at 1.34165 will persist.
Caution: A possible change in the direction of the resistance line at 1.34587 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Inside Down’ candle chart pattern is discovered. The chart forms ‘Three Inside Down’. which is a negative pattern 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 ‘Three Inside Down’ going down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35437 |
| 2nd High | 1.35302 |
| Next High | 1.34587 |
| Current Price | 1.34520 |
| Next Low | 1.34165 |
| 2nd Low | 1.34162 |
| 3rd Low | 1.33899 |
1.34587 – 1.35302 – 1.35179 – 1.34165 – 1.34826 – 1.34162 — 64.990289303065 – 63.085319311878 — 94.537232221682 – 90.71783271276 – 96.266868457561 – 93.99198763464
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Inside Down – – –