GBP/USD – 30M – SELL

The pair British Pound/US Dollar (GBP/USD) jumps from the descending trendline down.

A continuation of the bearish trend downwards to the next support at 1.36042 is considered certain.

Caution: A possible change in the direction of the resistance level at 1.36711 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

1.36711 – 1.36536 – 1.36414 – 1.36042 – 1.36152 – 1.3609 —
1.36693 – 1.36241 —
55.829245162452 – 43.471262140306 —
– —
1.36711 – 1770915600

Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Engulfing – – – – – – – – –