Also there is a ‘Rising Wedge Chart Pattern’ chart layout is existing. The chart shows ‘Rising Wedge Chart Pattern’. this is a bearish signal. The pair is likely to go down.
The pair British Pound/Japanese Yen (GBP/JPY) goes from the ascending trendline downwards
A descending movement down to the next support level at 216.389 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 219.605 could be enabled.
Consider stop-loss settings accordingly.
Also there is a ‘Three Black Crows’ candlestick pattern is existing. The candles form ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 219.605 |
| Current Price | 218.06800 |
| Next Low | 216.389 |
| 2nd Low | 214.628 |
| 3rd Low | 212.532 |
219.605 – 218.002 – 217.207 – 216.389 – 214.628 – 212.532 —
219.55400 – 218.93900 —
77.139199241995 – 58.772660324734 —
– —
219.605 – 1784145600
Trading Signals: FOREX – GBP – GBP/JPY – JPY – Three Black Crows – Rising Wedge Chart Pattern – – – – – – – –