GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) goes from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 1.27543 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Current target is 1.2719 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support zone at 1.27543 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Black Crows’ chart pattern is existing. The chart shows ‘Three Black Crows’. which is a negative signal. The currency pair is likely to fall. 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 | 1.29253 |
| 2nd High | 1.28732 |
| Next High | 1.27543 |
| Current Price | 1.26975 |
| Next Low | |
| 2nd Low | |
| 3rd Low |