GBP/USD – 30M – SELLCorrection of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.26433 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 1.26891 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Black Crows’ candle chart pattern is existing. The chart forms ‘Three Black Crows’. this is a bearish signal. The pair is likely to go down. 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 | 1.27202 |
| 2nd High | 1.26966 |
| Next High | 1.26891 |
| Current Price | 1.26250 |
| Next Low | 1.26127 |
| 2nd Low | 1.25975 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows