GBP/USD – 1H – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the descending trendline upwards
An ascending movement up to the next resistance at 1.34027 will continue.
Caution: A possible reversal of the trend in the direction of the support line at 1.32528 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Support Level’ indicator layout is found. The indicator shows ‘Support Level’. which could be a positive signal. The currency pair could go up.
Furthermore a ‘Bullish Engulfing’ candle pattern is detected. 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 probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.34902 |
| 2nd High | 1.34316 |
| Next High | 1.34027 |
| Current Price | 1.33545 |
| Next Low | 1.32528 |
| 2nd Low | 1.31792 |
| 3rd Low | 1.31237 |
1.34027 – 1.33696 – 1.34316 – 1.32528 – 1.33138 – 1.34448 —
1.33845 – 1.33572 —
58.985044059066 – 46.3497667315 —
– —
1.34027 – 1772629200
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Engulfing – – – – – – – – –