GBP/USD – 30M – SELLThe pair British Pound/US Dollar (GBP/USD) jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 1.25053 will continue.
Caution: A possible change in the direction of the resistance line at 1.25542 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candlestick pattern is existing. The candles form ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.26073 |
| 2nd High | 1.25690 |
| Next High | 1.25542 |
| Current Price | 1.25340 |
| Next Low | 1.25053 |
| 2nd Low | 1.25045 |
| 3rd Low | 1.25010 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Engulfing