GBP/USD – 30M – SELLThe pair British Pound/US Dollar (GBP/USD) goes from the bullish trendline down.
The bearish trend down to the next support level at 1.26132 will persist.
Caution: A possible change in the direction of the resistance level at 1.26891 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend will persist. Current target is 1.26674824 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 1.26891 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Black Crows’ candle chart pattern is detected. The chart shows ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27202 |
| 2nd High | 1.26966 |
| Next High | 1.26891 |
| Current Price | 1.26853 |
| Next Low | 1.26132 |
| 2nd Low | 1.26127 |
| 3rd Low | 1.25975 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows