GBP/USD – 30M – SELLCorrection of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 1.254675 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of support at 1.25877 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three Outside Down’ candlestick chart pattern is detected. The chart shows ‘Three Outside Down’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26136 |
| 2nd High | 1.25925 |
| Next High | 1.25877 |
| Current Price | 1.25647 |
| Next Low | 1.25045 |
| 2nd Low | 1.25010 |
| 3rd Low | 1.24744 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Outside Down