FX.co ★ dusty24 | GBP/USD

Currently, the situation with this pair is unclear. A signal was expected from the 50-period Moving Average for a full upward pullback on the H4 timeframe, but it is being delayed for now. However, the Stochastic and MACD 12.26.9 histogram support an upward pullback. Additionally, on the M5 timeframe, a bullish engulfing signal has occurred, with key levels at 1.3325 and 1.3330. Bears have initiated a cancellation signal of the bullish engulfing signal, but it seems uncertain. To determine whether the bullish signal will develop successfully or be canceled, one needs to monitor the price action and the specified key levels mentioned above. If the price moves above the upper key level at 1.3330 and continues upward, it indicates a successful development of the bullish signal. If the price drops below the lower key level at 1.3325, it will be a confirmation of the cancellation of the bullish engulfing pattern.