GBP/USD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.25343204 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of support at 1.26666 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three Black Crows’ candle pattern is detected. The chart shows ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27253 |
| 2nd High | 1.27181 |
| Next High | 1.26666 |
| Current Price | 1.25739 |
| Next Low | 1.24744 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows