FX.co ★ Candlestick analysis of the GBP/USD for December 14

On a 4-hour chart the GBP/USD is testing the resistance level of 1.5900. In case this level is broken through then short positions should be closed, as it will lead to increase to 1.6096.
The viewpoint is bearish, since the pair has formed the combination of candlesticks Bearish Engulfing, which indicates the downside movement, confirmed further.
These candlesticks appeared after the currency pair failed to break through the resistance level near 1.6085-1.6096, which means that the bulls did not manage to solidify here and the bears started increasing their influence.
A breakout of 1.5841 means that this point of view is correct.
In case the resistance level of 1.5500 is breached the decline with the target to 1.5300 is expected.