GBP/USD – 1H – SELLThe currency pair British Pound/US Dollar (GBP/USD) jumps from the bullish trendline downwards
A bearish movement down to the next support level at 1.25093 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.26136 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Engulfing’ candle chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27253 |
| 2nd High | 1.26666 |
| Next High | 1.26136 |
| Current Price | 1.25291 |
| Next Low | 1.25093 |
| 2nd Low | 1.24744 |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Engulfing