Long Cable due to Daily Engulfing Bar

FX:GBPUSD   British Pound / U.S. Dollar
I see no clear fundamental reason why Sterling has fallen as much as it has over the past couple of weeks, and with a clear engulfing bar on the daily I would expect some upward momentum on this pair.
An "engulfing bar" is different from what you have shown. Engulfing bars have a body that surrounds the body of the bar before it. Hope this helps. Tim
+1 Reply
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