GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) breaks through the bearish trendline upwards
The bullish trend upwards to the next resistance line at 1.31787 is certain.
Caution: A possible trend reversal in the direction of the support level at 1.31487 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bullish Engulfing’ candlestick chart pattern is existing. The candles form ‘Bullish Engulfing’. this is a bullish 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’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.32494 |
| 2nd High | 1.32087 |
| Next High | 1.31787 |
| Current Price | 1.31755 |
| Next Low | 1.31487 |
| 2nd Low | 1.31398 |
| 3rd Low | 1.31237 |
1.31787 – 1.32087 – 1.32494 – 1.31487 – 1.31398 – 1.31819 —
1.31797 – 1.31786 —
57.58692483613 – 51.058563959365 —
– —
1.31787 – 1782329400
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Engulfing – – – – – – – – –