GBP/USD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is expected. Current target is 1.2686 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support zone at 1.27686 is also possible.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ candle pattern is detected. The candles form ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.29253 |
| 2nd High | 1.28732 |
| Next High | 1.27686 |
| Current Price | 1.26601 |
| Next Low | |
| 2nd Low | |
| 3rd Low |