GBP/USD – 1H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.23521 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support level at 1.25401 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Harami’ chart pattern is detected. The candles show ‘Bearish Harami’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26073 |
| 2nd High | 1.25690 |
| Next High | 1.25401 |
| Current Price | 1.23928 |
| Next Low | 1.23521 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Harami