GBP/USD – 1H – SELL

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

A continuation of the downward movement down to the next support level at 1.34746 is considered certain.

Caution: A possible counter-trend in the direction of the resistance zone at 1.35394 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘StochRSI %K line crosses below %D line’ indicator layout is detected. The indicator is ‘StochRSI %K line crosses below %D line’. which is often a bearish chart signal. The currency pair could go down.

There is also a ‘Bearish Engulfing’ chart pattern is existing. The chart shows ‘Bearish Engulfing’. which 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 likelyhood of ‘Bearish Engulfing’ heading down is 79%.

1.35394 – 1.35441 – 1.35989 – 1.34746 – 1.34727 – 1.35043 —
1.35200 – 1.35271 —
49.87443161136 – 57.731528173468 —
– —
1.35394 – 1776790800

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