Daily Chart Bearish Engulfing Bar

Price action on the daily chart of this pair has formed a large bearish engulfing bar - BEEB.

As the attached chart shows; this engulfing bar is rejecting the recent price flip support level that has now held as resistance.

As we went through in yesterday's analysis with this pair, price had recently formed a 1,2,3 reversal pattern and price was re-testing the swing low of this pattern.

This is where price has now sold off lower from with this bearish engulfing bar.

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