GBP/USD – 30M – SELL

The combination British Pound/US Dollar (GBP/USD) jumps from the bearish trendline down.

A continuation of the bearish trend downwards to the next support line at 1.359 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at 1.36613 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Bearish Engulfing’ candle pattern is found. The chart forms ‘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 success rate of a ‘Bearish Engulfing’ going down is 79%.

1.36613 – 1.36586 – 1.36711 – 1.36345 – 1.36351 – 1.359 —
1.36323 – 1.36205 —
36.760765405453 – 28.738878087317 —
– —
1.36613 – 1771239600

Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Engulfing – – – – – – – – –