GBP/USD – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.25619 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support line at 1.27253 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Black Crows’ candlestick pattern is existing. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27873 |
| 2nd High | 1.27283 |
| Next High | 1.27253 |
| Current Price | 1.25802 |
| Next Low | 1.25619 |
| 2nd Low | 1.25246 |
| 3rd Low | 1.25067 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows