GBP/USD – 30M – SELLThe currency pair British Pound/US Dollar (GBP/USD) goes from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 1.25563 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 1.25878 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Engulfing’ candle chart pattern is detected. The chart forms ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26666 |
| 2nd High | 1.26136 |
| Next High | 1.25878 |
| Current Price | 1.25690 |
| Next Low | 1.25563 |
| 2nd Low | 1.24744 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Engulfing