GBP/USD – 30M – SELL

The pair British Pound/US Dollar (GBP/USD) goes from the descending trendline downwards

A continuation of the downtrend down to the next support level at 1.33109 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at 1.34027 could happen.
Consider stop-loss settings accordingly.

Next a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. which is often a bearish chart signal. The currency pair is likely to fall.

Next a ‘Bearish Engulfing’ candle pattern is existing. The candles form ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.

1.3379 – 1.33724 – 1.33764 – 1.33109 – 1.32971 – 1.33056 —
1.34060 – 1.33988 —
62.820221854846 – 64.257572861247 —
– —
1.3379 – 1772793000

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