GBP/USD – 30M – SELL

The currency pair British Pound/US Dollar (GBP/USD) moves from the descending trendline down.

A continuation of the bearish trend downwards to the next support level at 1.33056 is expected.

Caution: A possible reversal of the trend in the direction of resistance at 1.33864 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘StochRSI %K line crosses below %D line’ indicator signal is detected. The indicator shows ‘StochRSI %K line crosses below %D line’. which is often a bearish signal. The currency pair is likely to fall.

Moreover a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bearish chart signal. The currency pair is likely to fall.

Moreover a ‘Evening Star’ candle chart pattern is detected. The candles form ‘Evening Star’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Evening Star’ heading down is 72% (Bull & Bear Market).

1.33864 – 1.34027 – 1.33696 – 1.33056 – 1.33461 – 1.3303 —
1.33278 – 1.33731 —
41.391831342191 – 56.639688799166 —
– —
1.33864 – 1772679600

Trading Signals: FOREX – GBP – GBP/USD – USD – Evening Star – – – – – – – – –