Our system’s recommendation today is to SELL. The BEARISH ENGULFING pattern finally received a confirmation because the prices crossed below the confirmation level which was at 2.8750, and our valid average selling price stands now at 2.8700. The previous BUY signal was issued on 11/13/2014, 8 days ago, when the stock price was 2.9425. Since then GBP.L has fallen by -2.46%.
The market ran out of steam and the traders are now more in agreement about the bearishness. The evidence is strong enough to prompt the closing of long positions. The bearish pattern that was previously identified is finally confirmed and a SELL signal is generated. You still have time to follow the signal and then you may start checking other securities for a bullish bet.