GBP/USD – 30M – BUYThe pair British Pound/US Dollar (GBP/USD) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance at 1.25359 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 1.25045 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bullish Engulfing’ candlestick chart pattern is found. The candles show ‘Bullish Engulfing’. this is a bullish chart scenario. The currency 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 | 1.25743 |
| 2nd High | 1.25501 |
| Next High | 1.25359 |
| Current Price | 1.25772 |
| Next Low | 1.25045 |
| 2nd Low | 1.25010 |
| 3rd Low | 1.24744 |
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Engulfing