GBP/USD – 30M – SELLThe pair British Pound/US Dollar (GBP/USD) moves from the bullish trendline down.
A bearish descent down to the next support level at 1.26794 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.27142 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish Engulfing’ chart pattern is existing. The chart shows ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27686 |
| 2nd High | 1.27202 |
| Next High | 1.27142 |
| Current Price | 1.27223 |
| Next Low | 1.26794 |
| 2nd Low | 1.26448 |
| 3rd Low | 1.25663 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Engulfing