GBP/USD – 4H – SELLThe currency pair British Pound/US Dollar (GBP/USD) goes from the ascending trendline downwards
A bearish descent down to the next support line at 1.24870 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.27873 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Engulfing’ candle pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.30476 |
| 2nd High | 1.28109 |
| Next High | 1.27873 |
| Current Price | 1.25760 |
| Next Low | 1.24870 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Engulfing