GBPUSD 23-27 November 2015: ENGULFING pattern inisiate the SELL SIGNAL

GBPUSD still become my pair focus. I told you before that GBPUSD is bearish. Last week was an interisting price movemement, it climb up in the first 4 days, but suddenly fall in the last day of the week.

Let see what happen.

Before i continue: you should know that i trade forex based on weekly price movement, weekly candle stick, weekly evidence.

In my previous signal,7 November 2015, GBPUSD generate a sell signal. 

17 November i wrote about battle between bull and bear, long vs short position(GBPUSD long or short), i conclude that GBPUSD is still bearish

And this is last week daily price movement

The bar inside the red circle is GBPUSD price movement last week. And the last black bar is the friday price movement.

Again GBPUSD generate sell signal, this time at daily time frame.

Why:

1. Weekly still bearish, below 200 MA, read my previous article about this pair

2. It rejected 50MA AND 200 MA

3. Friday bar, engulf the 3 previous bar

4. The signal appeared at a good location, resistance price level

At Monday opening market, i'll add another trade for this pair, to catch the daily movement. I ' ll post it after i placed my position.

See U next week and ENJOY YOUR TRADE.