FX.co ★ Candlestick analysis of the GBP/USD for December 7

On a 4-hour graph the GBP/USD is continuing to move to the upper limit of the downtrend after it could not break through the support level of 1.5500.
The viewpoint is still bearish, since the pair has formed the combination of candlesticks Bearish Engulfing, which indicates the downside motion, confirmed further.
This combination of candlesticks emerged after the pair failed to break out the resistance level near 1.6085-1.6096, which means that the bulls did not manage to solidify here, and the bears started to increase their presence.
The breakthrough of 1.5841 confirms this point of view.
If the support level of 1.5500 is broken down then the decline with the target to 1.5300 is expected. However, short positions should be closed in case the resistance level of 1.5900 is broken out, as it will lead to advance to 1.6096.