GBP/USD – 30M – SELL

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

A continuation of the downward movement downwards to the next support at 1.34746 is likely expected.

Caution: A possible change in the direction of the resistance zone at 1.35394 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘StochRSI %K line crosses below %D line’ indicator signal is found. The indicator shows ‘StochRSI %K line crosses below %D line’. which could be a negative chart signal. The pair is likely to go down.

And also a ‘Resistance Level’ indicator signal is found. The indicator is ‘Resistance Level’. this is usually a bearish chart signal. The currency pair is likely to fall.

And also a ‘Bearish Engulfing’ candle chart pattern is detected. The chart forms ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

1.35394 – 1.35344 – 1.35441 – 1.34746 – 1.34824 – 1.35208 —
1.35339 – 1.35298 —
61.454634187408 – 59.435758293907 —
– —
1.35394 – 1776792600

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