GBP/JPY – 1H – SELLCorrection of the major bullish trend halted around the Fibonacci 1-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 209.08427 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 210.511 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Concealing Baby Swallow’ chart pattern is detected. The chart shows ‘Concealing Baby Swallow’. 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 success rate of a ‘Concealing Baby Swallow’ heading down is 75% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 214.433 |
| 2nd High | 213.719 |
| Next High | 210.511 |
| Current Price | 208.16000 |
| Next Low | 207.628 |
| 2nd Low | 207.045 |
| 3rd Low | 206.761 |
210.511 – 213.719 – 213.709 – 207.628 – 212.115 – 211.597 —
208.65000 – 209.12400 —
41.000547147283 – 40.594707873575 —
– —
210.511 – 1770822000
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Concealing Baby Swallow – Rising Wedge Chart Pattern – – – – – – – –