GBP/USD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Current target is 1.252771 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of support at 1.26132 is within the realm of possibility.
Consider stop-loss settings accordingly.
And also a ‘Three Line Strike – Bearish’ candle pattern is existing. The chart forms ‘Three Line Strike – Bearish’. 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 likelyhood of ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26595 |
| 2nd High | 1.26573 |
| Next High | 1.26132 |
| Current Price | 1.25335 |
| Next Low | 1.24870 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Line Strike – Bearish