GBP/USD – 1H – SELLThe currency pair British Pound/US Dollar (GBP/USD) moves from the bullish trendline down.
The bearish trend downwards to the next support level at 1.36426 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.36817 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Engulfing’ candlestick pattern is found. The candles form ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37884 |
| 2nd High | 1.37522 |
| Next High | 1.36817 |
| Current Price | 1.36817 |
| Next Low | 1.36426 |
| 2nd Low | 1.34015 |
| 3rd Low | 1.34008 |
1.36817 – 1.34589 – 1.34911 – 1.36426 – 1.34015 – 1.34008 —
1.36752 – 1.37038 —
71.4214212854 – 65.352645269936 —
– —
1.36817 – 1769385600
Trading Signals: FOREX – GBP – GBP/USD – USD – Bearish Engulfing – – – – – – – – –