GBP/USD – 30M – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the bullish trendline up.
A continuation of the uptrend up to the next resistance line at 1.36223 will continue.
Caution: A possible change in the direction of the support level at 1.35865 could happen.
Consider stop-loss settings accordingly.
Additionally a ‘Bullish Engulfing’ candlestick chart pattern is found. The candles show ‘Bullish Engulfing’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.36711 |
| 2nd High | 1.36613 |
| Next High | 1.36223 |
| Current Price | 1.36367 |
| Next Low | 1.35865 |
| 2nd Low | 1.34538 |
| 3rd Low | 1.34532 |
1.36223 – 1.36116 – 1.34953 – 1.35865 – 1.34538 – 1.34571 —
1.36095 – 1.36405 —
49.313344295445 – 63.876223327491 —
– —
1.36223 – 1777627800
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Engulfing – – – – – – – – –