GBP/USD – 1H – SELLThe combination British Pound/US Dollar (GBP/USD) jumps from the bullish trendline downwards
The bearish trend down to the next support line at 1.35235 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 1.36809 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Two Crows’ chart pattern is existing. The chart shows ‘Two Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37884 |
| 2nd High | 1.37522 |
| Next High | 1.36809 |
| Current Price | 1.36257 |
| Next Low | 1.35235 |
| 2nd Low | 1.35126 |
| 3rd Low | 1.34826 |
1.36194 – 1.35702 – 1.35629 – 1.35235 – 1.35126 – 1.34826 — 67.569786134556 – 65.871143509281 — 96.737953097055 – 89.218872011889 – 95.248651446656 – 93.486941910134
Trading Signals: FOREX – GBP – GBP/USD – USD – Two Crows – – –