GBP/USD – 30M – SELLCorrection of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.32599 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.33767 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Black Crows’ chart pattern is existing. The chart shows ‘Three Black Crows’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34141 |
| 2nd High | 1.34023 |
| Next High | 1.33767 |
| Current Price | 1.32787 |
| Next Low | 1.32599 |
| 2nd Low | 1.32551 |
| 3rd Low | 1.32471 |
1.33767 – 1.33668 – 1.34023 – 1.32797 – 1.33225 – 1.33330
Trading Signals: FOREX – GBP – GBP/USD – USD – Three Black Crows