GBP/USD – 30M – SELLThe currency pair British Pound/US Dollar (GBP/USD) goes from the descending trendline downwards
A continuation of the bearish trend downwards to the next support line at 1.34191 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 1.34446 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. which is often a bearish chart scenario. The pair is likely to go down.
Also there is a ‘Three Outside Down’ candlestick pattern is existing. The candles show ‘Three Outside Down’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34944 |
| 2nd High | 1.34637 |
| Next High | 1.34446 |
| Current Price | 1.34154 |
| Next Low | 1.34191 |
| 2nd Low | 1.33893 |
| 3rd Low | 1.33633 |
1.34446 – 1.34637 – 1.34944 – 1.34227 – 1.34241 – 1.34191 —
1.34363 – 1.34275 —
51.81592188187 – 39.640732097588 —
– —
1.34446 – 1768437000
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down – – – – – – – – –