GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) goes from the ascending trendline downwards
The bearish trend downwards to the next support level at 1.35198 will continue.
Caution: A possible change in the direction of the resistance zone at 1.35898 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Outside Down’ candle chart pattern is found. The candles show ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36577 |
| 2nd High | 1.35943 |
| Next High | 1.35898 |
| Current Price | 1.35702 |
| Next Low | 1.35198 |
| 2nd Low | 1.34165 |
| 3rd Low | 1.34162 |
1.35629 – 1.35898 – 1.34587 – 1.35198 – 1.35267 – 1.34165 — 70.537676572169 – 65.669163402925 — 94.632355805638 – 88.687263168683 – 93.530413494495 – 91.864108719934
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down – – –