GBP/USD – 30M – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the descending trendline up.
A bullish ascent up to the next resistance level at 1.37068 is expected.
Caution: A possible counter-trend in the direction of the support line at 1.365 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bullish Engulfing’ chart pattern is existing. The chart shows ‘Bullish Engulfing’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37875 |
| 2nd High | 1.37149 |
| Next High | 1.37068 |
| Current Price | 1.37038 |
| Next Low | 1.365 |
| 2nd Low | 1.36227 |
| 3rd Low | 1.34819 |
1.37068 – 1.37061 – 1.37149 – 1.365 – 1.36227 – 1.36599 —
1.37009 – 1.37048 —
53.254039523591 – 55.881979059977 —
– —
1.37068 – 1770145200
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Engulfing – – – – – – – – –