GBP/USD – 30M – SELL

The currency pair British Pound/US Dollar (GBP/USD) moves from the descending trendline down.

A continuation of the downtrend downwards to the next support level at 1.32731 will persist.

Caution: A possible counter-trend in the direction of resistance at 1.33743 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘StochRSI %K line crosses below %D line’ indicator layout is existing. The indicator is ‘StochRSI %K line crosses below %D line’. this is usually a bearish chart scenario. The currency pair could go down.

Then a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. this is usually a bearish chart signal. The pair is likely to go down.

Then a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles form ‘Bearish Engulfing’. this 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 success rate of a ‘Bearish Engulfing’ heading down is 79%.

1.33743 – 1.33642 – 1.3339 – 1.32731 – 1.32299 – 1.32178 —
1.33620 – 1.33708 —
48.273459595226 – 44.891522864826 —
– —
1.33743 – 1773824400

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