GBP/USD – 30M – SELLThe combination British Pound/US Dollar (GBP/USD) goes from the ascending trendline downwards
A bearish descent down to the next support line at 1.26378 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.26969 could occur.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish Engulfing’ candle chart pattern is existing. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. 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 | 1.27459 |
| 2nd High | 1.27222 |
| Next High | 1.26969 |
| Current Price | 1.26794 |
| Next Low | 1.26378 |
| 2nd Low | 1.26171 |
| 3rd Low | 1.25663 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Engulfing