GBP/USD – 30M – SELLCorrection of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.23998862 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support zone at 1.25754 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ candlestick pattern is existing. The chart shows ‘Three Black Crows’. 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 Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26136 |
| 2nd High | 1.26073 |
| Next High | 1.25754 |
| Current Price | 1.24405 |
| Next Low | 1.24099 |
| 2nd Low | 1.23878 |
| 3rd Low | 1.23521 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows