GBP/USD – 30M – SELL

The pair British Pound/US Dollar (GBP/USD) moves from the ascending trendline downwards

A bearish movement down to the next support level at 1.31528 is expected.

Caution: A possible change in the direction of the resistance line at 1.32135 could happen.
Please make appropriate stop-loss settings in the case of a trade.

In addition a ‘Three Outside Down’ chart pattern is detected. The chart forms ‘Three Outside Down’. which is a negative chart scenario. The 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).

1.32135 – 1.31152 – 1.31159 – 1.31528 – 1.3095 – 1.308 —
1.31928 – 1.31973 —
58.795850751362 – 61.612795562268 —
– —
1.32135 – 1764108000

Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down – – – – – – – – –