GBP/USD – 1H – SELLThe pair British Pound/US Dollar (GBP/USD) moves from the ascending trendline down.
A bearish trend down to the next support at 1.33344 is likely expected.
Caution: A possible change in the direction of the resistance level at 1.33844 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Two Crows’ chart pattern is detected. The candles show ‘Two Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34426 |
| 2nd High | 1.34336 |
| Next High | 1.33844 |
| Current Price | 1.33507 |
| Next Low | 1.33344 |
| 2nd Low | 1.32186 |
| 3rd Low | 1.3212 |
1.33844 – 1.32915 – 1.32764 – 1.33344 – 1.32186 – 1.3212 —
1.33475 – 1.33759 —
58.369559966777 – 66.656060442111 —
1.33344 – 1783047600 —
1.33844 – 1783011600
Trading Signals: FOREX – GBP – GBP/USD – USD – Two Crows – – – – – – – – –