Then a ‘Support Level’ indicator layout is detected. The indicator shows ‘Support Level’. which could be a negative chart scenario. The pair is likely to go down.
Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is considered certain. Current target is 1.31332 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support level at 1.31707 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three Black Crows’ candle pattern is found. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.31925 |
| 2nd High | 1.3176 |
| Next High | 1.31707 |
| Current Price | 1.31379 |
| Next Low | 1.31332 |
| 2nd Low | 1.31074 |
| 3rd Low | 1.31 |
1.31707 – 1.3176 – 1.31925 – 1.31332 – 1.31415 – 1.31353 —
1.31513 – 1.31482 —
46.945615803247 – 47.917233051393 —
– —
1.31707 – 1763487000
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows – – – – –