GBP/USD – 30M – SELLCorrection of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Current target is 1.2520581 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support line at 1.25877 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Black Crows’ candle chart pattern is found. The candles show ‘Three Black Crows’. this 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’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26136 |
| 2nd High | 1.25925 |
| Next High | 1.25877 |
| Current Price | 1.25123 |
| Next Low | 1.25045 |
| 2nd Low | 1.25010 |
| 3rd Low | 1.24744 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows