GBP/JPY – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 194.189 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 197.51500 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Two Crows’ candlestick chart pattern is discovered. The candles show ‘Two Crows’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 199.55300 |
| 2nd High | 198.94600 |
| Next High | 197.51500 |
| Current Price | 195.16300 |
| Next Low | 194.63800 |
| 2nd Low | 194.18900 |
| 3rd Low | 194.05400 |