Resistance: 1.5686 moderate / 1.5720 minor / 1.5773 minor

Support: 1.5633 strong / 1.5599 moderate / 1.5546 minor

GBPUSD is generally bullish with the Bearish Harami occurring near a strong support level at 1.5633, the Pivot Point. As such it would be best to consider shorting only if we have a close below 1.5633 with a stop loss above the candlestick patterns high. Price target for any subsequent sell-off will be at 1.5599, possibly on to 1.5546 if the former gives way.

For pattern explanation and visual identification rules, click here.

Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices