GBP/USD – 1H – BUY

The currency pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards

The bullish trend upwards to the next resistance at 1.35017 is expected.

Caution: A possible reversal of the trend in the direction of the support level at 1.34138 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which is often a bullish signal. The currency pair is likely to rise.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is expected. Current target is 1.346575 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 1.35017 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Bullish Belt Hold’ chart pattern is detected. The chart forms ‘Bullish Belt Hold’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).

1.35017 – 1.34908 – 1.35302 – 1.34138 – 1.34013 – 1.34492 —
1.34314 – 1.34739 —
40.041423753239 – 53.525226682365 —
– —
1.35017 – 1767373200

Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Belt Hold – – – – – – – – –