GBP/USD – 1H – BUYThe currency pair British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
The bullish trend up to the next resistance line at 1.26136 will persist.
Caution: A possible trend reversal in the direction of support at 1.24744 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bullish Engulfing’ candle pattern is discovered. The candles show ‘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 likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.27253 |
| 2nd High | 1.26666 |
| Next High | 1.26136 |
| Current Price | 1.25741 |
| Next Low | 1.24744 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Engulfing