GBP/USD – 30M – BUYCorrection of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.33056 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the support line at 1.33693 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Shooting Star’ chart pattern is existing. The candles show ‘Shooting Star’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34891 |
| 2nd High | 1.34828 |
| Next High | 1.33693 |
| Current Price | 1.33429 |
| Next Low | 1.33056 |
| 2nd Low | 1.33019 |
| 3rd Low | 1.32356 |
1.33693 – 1.33501 – 1.34828 – 1.33056 – 1.3312 – 1.34157 —
1.33671 – 1.33492 —
56.392523572381 – 51.214649969349 —
– —
1.33693 – 1780929000
Trading Signals: FOREX – GBP – GBP/USD – USD – Shooting Star – – – – – – – – –