GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) goes from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 1.27235 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 1.27813 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ candle pattern is existing. The candles show ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.28109 |
| 2nd High | 1.27988 |
| Next High | 1.27813 |
| Current Price | 1.27438 |
| Next Low | 1.27235 |
| 2nd Low | 1.27165 |
| 3rd Low | 1.26296 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Engulfing