GBP/USD – 30M – SELLThe pair British Pound/US Dollar (GBP/USD) moves from the descending trendline down.
A continuation of the bearish trend downwards to the next support level at 1.26659 will continue.
Caution: A possible change in the direction of the resistance zone at 1.26865 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles form ‘Bearish Engulfing’. this is a bearish pattern signal. The pair is likely to go down. 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 | 1.27202 |
| 2nd High | 1.26966 |
| Next High | 1.26865 |
| Current Price | 1.26724 |
| Next Low | 1.26659 |
| 2nd Low | 1.26127 |
| 3rd Low | 1.25975 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Engulfing