GBP/USD – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 1.25573 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 1.25925 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Line Strike – Bearish’ candlestick pattern is existing. The candles show ‘Three Line Strike – Bearish’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26666 |
| 2nd High | 1.26136 |
| Next High | 1.25925 |
| Current Price | 1.25788 |
| Next Low | 1.25045 |
| 2nd Low | 1.25010 |
| 3rd Low | 1.24744 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Line Strike – Bearish