Then a ‘Bearish Engulfing’ candle pattern is detected. The chart shows ‘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%.
Support & Resistance | Price Range* |
---|---|
3rd High | 1.27459 |
2nd High | 1.27222 |
Next High | 1.26993 |
Current Price | 1.26985 |
Next Low | 1.26296 |
2nd Low | 1.26171 |
3rd Low | 1.25246 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Engulfing