GBP/USD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.22381 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support zone at 1.23149 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Black Crows’ candlestick pattern is discovered. The chart forms ‘Three Black Crows’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.23768 |
| 2nd High | 1.23229 |
| Next High | 1.23149 |
| Current Price | 1.22930 |
| Next Low | 1.22381 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows