GBP/USD – 30M – SELL

The currency pair British Pound/US Dollar (GBP/USD) goes from the descending trendline downwards

A continuation of the downtrend downwards to the next support at 1.36227 is considered certain.

Caution: A possible counter-trend in the direction of resistance at 1.37149 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

And also a ‘MACD crosses below signal’ indicator layout is detected. The indicator is ‘MACD crosses below signal’. this is usually a bearish signal. The pair is likely to go down.

And also a ‘Last Engulfing Bottom:’ candlestick pattern is detected. The candles show ‘Last Engulfing Bottom:’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).

1.37149 – 1.37875 – 1.38139 – 1.36227 – 1.36599 – 1.3662 —
1.36935 – 1.36991 —
58.262424726216 – 51.935749109581 —
– —
1.37149 – 1770033600

Trading Signals: FOREX – GBP – GBP/USD – USD – Last Engulfing Bottom: – – – – – – – – –