GBP/USD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Current target is 1.33015 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support zone at 1.33844 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Last Engulfing Top’ candlestick chart pattern is detected. The candles form ‘Last Engulfing Top’. which 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 ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34426 |
| 2nd High | 1.34336 |
| Next High | 1.33844 |
| Current Price | 1.33441 |
| Next Low | 1.32943 |
| 2nd Low | 1.32616 |
| 3rd Low | 1.32186 |
1.33844 – 1.32915 – 1.32764 – 1.32943 – 1.32616 – 1.32186 —
1.33499 – 1.33471 —
54.208526318561 – 53.223586351049 —
– —
1.33844 – 1783011600
Trading Signals: FOREX – GBP – GBP/USD – USD – Last Engulfing Top – – – – – – – – –