GBP/USD – 1H – SELL

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

A continuation of the downward movement downwards to the next support line at 1.33831 will persist.

Caution: A possible reversal of the trend in the direction of the resistance zone at 1.34607 should always be considered.
Consider stop-loss settings accordingly.

And also a ‘Resistance Level’ indicator layout is detected. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.

And also a ‘Last Engulfing Bottom:’ chart pattern is detected. The chart forms ‘Last Engulfing Bottom:’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).

1.34607 – 1.34326 – 1.34231 – 1.33831 – 1.33242 – 1.33495 —
1.34309 – 1.34207 —
52.304496801087 – 40.851338220953 —
– —
1.34607 – 1781492400

Trading Signals: FOREX – GBP – GBP/USD – USD – Last Engulfing Bottom: – – – – – – – – –