GBP/USD – 30M – BUY

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

A bullish movement up to the next resistance line at 1.3379 is expected.

Caution: A possible trend reversal in the direction of the support line at 1.32826 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a positive chart signal. The currency pair could go up.

Then a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. which is often a bullish chart signal. The currency pair is likely to rise.

Then a ‘Bullish Engulfing’ candlestick chart pattern is detected. The candles show ‘Bullish Engulfing’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.

1.3379 – 1.33724 – 1.33764 – 1.32826 – 1.33109 – 1.32971 —
1.33503 – 1.33824 —
55.093312828459 – 63.578249259879 —
– —
1.3379 – 1772793000

Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Engulfing – – – – – – – – –