GBP/USD – 30M – SELLAdditionally a ‘Double bottom retreat down’ chart layout is detected. The chart picture forms ‘Double bottom retreat down’. which is a negative chart scenario. The pair is likely to go down.
The combination British Pound/US Dollar (GBP/USD) goes from the ascending trendline down.
The bearish trend down to the next support level at 1.35198 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 1.35898 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Black Crows’ candlestick chart pattern is existing. The candles form ‘Three Black Crows’. 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 Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36577 |
| 2nd High | 1.35943 |
| Next High | 1.35898 |
| Current Price | 1.35568 |
| Next Low | 1.35198 |
| 2nd Low | 1.34165 |
| 3rd Low | 1.34162 |
1.35629 – 1.35898 – 1.34587 – 1.35198 – 1.35267 – 1.34165 — 49.02703411162 – 43.764880723882 — 0 – 0 – 5.3016720986483 – 0.57657449188168
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows – Double bottom retreat down – –