GBP/USD – 30M – BUYThe combination British Pound/US Dollar (GBP/USD) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance at 1.37875 is certain.
Caution: A possible reversal of the trend in the direction of support at 1.365 could happen.
Consider stop-loss settings accordingly.
Besides a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. this is usually a bullish chart signal. The currency pair is likely to rise.
Besides a ‘Bullish Engulfing’ candlestick pattern is discovered. The chart shows ‘Bullish Engulfing’. which is a positive pattern signal. The currency 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 | 1.38337 |
| 2nd High | 1.38139 |
| Next High | 1.37875 |
| Current Price | 1.37154 |
| Next Low | 1.365 |
| 2nd Low | 1.36227 |
| 3rd Low | 1.34819 |
1.37068 – 1.37061 – 1.37149 – 1.365 – 1.36227 – 1.36599 —
1.37035 – 1.37197 —
54.777491602128 – 60.33162439642 —
– —
1.37068 – 1770145200
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Engulfing – – – – – – – – –