Forex Trading Signals for June 20, 2017: GBPUSD: Bearish Engulfing Day Exposes Downside Targets

Over the weekend we looked at the GBPUSD and how prices have held below the 1.2775 area on a daily closing basis since dropping below it on June 9th. But until yesterday’s session there hadn’t been a valid sell signal.

Buyers kicked off the new week with a 60 pip rally but quickly lost their grip after reaching a session high of 1.2813.

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The sudden shift in direction carved out a bearish engulfing pattern on the daily time frame.

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