Bearish Engulfing on GBP/USD

Bearish Engulfing on GBP/USD

Since the beginning of this month, the bearish sentiment prevails on GBP/USD. During this period, the pound weakened against the US dollar by more than 400 points. The trading instrument has the potential to further reduction. Near the round level of 1.28000, the Price Action pattern, Bearish Engulfing, was formed (D1 timeframe).

If the price fixes below 1.28000, we recommend considering sales of GBP/USD. The immediate goal for profit taking is the "mirror" support of 1.27250. In the medium term, the currency can reach a round level of 1.26000. Confirmations and entry points to the market should be looked for on the lower timeframes.

by JustForex, 2017.08.23

Este artículo representa una opinión personal y no debe interpretarse como un consejo de inversión, y/u oferta, y/o una petición persistente para llevar a cabo transacciones financieras, y/o una garantía, y/o un pronóstico de eventos futuros.

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