GBP/USD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is certain. Current target is 1.23208 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 1.23768 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Black Crows’ candlestick pattern is discovered. The candles show ‘Three Black 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 ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.25754 |
| 2nd High | 1.24938 |
| Next High | 1.23768 |
| Current Price | 1.22930 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows