GBP/USD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend will continue. Current target is 1.27924 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of support at 1.28732 should always be considered.
Consider stop-loss settings accordingly.
Besides a ‘Three Black Crows’ candlestick pattern is found. The chart shows ‘Three Black Crows’. which is a bearish 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’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.29764 |
| 2nd High | 1.29253 |
| Next High | 1.28732 |
| Current Price | 1.27724 |
| Next Low | |
| 2nd Low | |
| 3rd Low |