Resistance: 1.5570 minor/1.5624 minor
Support: 1.5500 moderate/1.5446 strong/1.5376 moderate
We have a Bearish Engulfing in 4-Hour GBPUSD charts. Market is in an uptrend while our moderate bearish reversal pattern is just above a moderate support 1.5500. We need a close below the said price before selling the immediate target at 1.5446 break of which suggests a reversal is ongoing. Stops above the patterns high.
Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To aLook At Prices