Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Target of the current trend is 217.847036 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 218.939 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Tweezers Top’ candlestick pattern is found. The chart shows ‘Tweezers Top’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 219.528 |
| 2nd High | 219.396 |
| Next High | 218.939 |
| Current Price | 218.34900 |
| Next Low | 217.304 |
| 2nd Low | 216.863 |
| 3rd Low | 216.706 |
218.939 – 219.396 – 219.528 – 218.668 – 218.844 – 219.192 —
218.25700 – 218.43300 —
28.084228303942 – 47.728674281864 —
– —
218.939 – 1784260800
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Tweezers Top – – – – – – – – –