GBP/USD – 4H – BUYThe currency pair British Pound/US Dollar (GBP/USD) moves from the descending trendline up.
An ascending movement upwards to the next resistance at 1.35748 is certain.
Caution: A possible reversal of the trend in the direction of the support zone at 1.32528 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bullish Engulfing’ candle chart pattern is discovered. The candles show ‘Bullish Engulfing’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.37327 |
| 2nd High | 1.37116 |
| Next High | 1.35748 |
| Current Price | 1.33690 |
| Next Low | 1.32528 |
| 2nd Low | 1.31792 |
| 3rd Low | 1.3037 |
1.35748 – 1.37116 – 1.37 – 1.32528 – 1.34337 – 1.359 —
1.33803 – 1.33712 —
45.694133986405 – 47.906354554293 —
– —
1.35748 – 1772078400
Trading Signals: FOREX – GBP – GBP/USD – USD – Bullish Engulfing – – – – – – – – –