GBP/USD – 30M – BUYCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 1.23521 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 1.25401 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Two Crows’ candle chart pattern is found. The candles form ‘Two Crows’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.25690 |
| 2nd High | 1.25542 |
| Next High | 1.25401 |
| Current Price | 1.23927 |
| Next Low | 1.23521 |
| 2nd Low | |
| 3rd Low |