Resistance: 1.5570 minor/1.5624 minor
Support: 1.5500 moderate/1.5446 strong/1.5376 moderate
We have a moderately credible bearish reversal pattern, Bearish Engulfing in Hourly GBPUSD charts. With prices under a minor resistance look for a possible technical correction, stops just over 1.5570 the immediate objective 1.5500 break of which sees the Pivot Point as its target.
Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To aLook At Prices