GBP/USD – 4H – SELLThe combination British Pound/US Dollar (GBP/USD) moves from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 1.34162 is considered certain.
Caution: A possible change in the direction of the resistance level at 1.35493 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative signal. The currency pair is likely to fall.
Furthermore a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. which is often a bearish chart scenario. The currency pair could go down.
Furthermore a ‘Three Outside Down’ candlestick chart pattern is discovered. The candles form ‘Three Outside 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 chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37884 |
| 2nd High | 1.36809 |
| Next High | 1.35493 |
| Current Price | 1.34859 |
| Next Low | 1.34162 |
| 2nd Low | 1.33899 |
| 3rd Low | 1.33699 |
1.35493 – 1.35437 – 1.36809 – 1.34162 – 1.33899 – 1.35204 — 58.933974982896 – 54.608847773256 — 91.578873437281 – 75.549585615957 – 97.192957812427 – 89.042819684413
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down – – –