GBP/USD – 1H – SELLThe currency pair British Pound/US Dollar (GBP/USD) moves from the bullish trendline downwards
A descending movement downwards to the next support at 1.35235 will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 1.36712 could be enabled.
Consider stop-loss settings accordingly.
There is also a ‘Three Inside Down’ candlestick chart pattern is existing. The candles form ‘Three Inside Down’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37522 |
| 2nd High | 1.36809 |
| Next High | 1.36712 |
| Current Price | 1.35480 |
| Next Low | 1.35235 |
| 2nd Low | 1.35126 |
| 3rd Low | 1.34826 |
1.36712 – 1.36194 – 1.35702 – 1.36293 – 1.35235 – 1.35126 — 31.073666561286 – 30.038356117219 — 9.3742660627411 – 8.9414527763798 – 6.1527120289599 – 8.1708885533747
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Inside Down – – –