There is also a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.36160224 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.36711 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Two Crows’ candlestick pattern is existing. The candles show ‘Two Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37327 |
| 2nd High | 1.37116 |
| Next High | 1.36711 |
| Current Price | 1.36426 |
| Next Low | 1.359 |
| 2nd Low | 1.3586 |
| 3rd Low | 1.35081 |
1.36711 – 1.36536 – 1.36414 – 1.359 – 1.36043 – 1.36042 —
1.36469 – 1.36535 —
60.915830274742 – 64.438337003242 —
– —
1.36711 – 1770915600
Trading Signals: FOREX – GBP – GBP/USD – USD – Two Crows – – – – – – – – –