GBP/USD – 30M – BUYCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 1.343745 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support zone at 1.34856 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Two Crows’ candlestick chart pattern is detected. The candles form ‘Two Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.35674 |
| 2nd High | 1.35165 |
| Next High | 1.34856 |
| Current Price | 1.34589 |
| Next Low | 1.33893 |
| 2nd Low | 1.33633 |
| 3rd Low | 1.33566 |
1.34856 – 1.34404 – 1.34508 – 1.33893 – 1.3392 – 1.34241 —
1.34832 – 1.34662 —
58.273929952353 – 54.398387942696 —
– —
1.34856 – 1768231800
Trading Signals: FOREX – GBP – GBP/USD – USD – Two Crows – – – – – – – – –