GBP/USD – 30M – SELLThe pair British Pound/US Dollar (GBP/USD) jumps from the ascending trendline downwards
A bearish trend down to the next support level at 1.25663 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.25795 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26573 |
| 2nd High | 1.26164 |
| Next High | 1.25795 |
| Current Price | 1.26005 |
| Next Low | 1.25663 |
| 2nd Low | 1.25246 |
| 3rd Low | 1.25067 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Engulfing