How do you read an exchange rate?

I came across these sentences when reading about the J-Curve Effect:

In the goods market model, it is assumed that the exchange rate (E_$/£) is directly related to current account demand in the United States. The logic of the relationship goes as follows. If the dollar depreciates, meaning E_$/£ rises, then foreign goods will become more expensive to U.S. residents, causing a decrease in import demand.

I don’t understand this sentence: "If the dollar depreciates, meaning E_$/£ rises…"

Doesn’t E_$/£ mean that the dollar is the base currency? So for example, if I said that E_$/£ = £1.12 then with one dollar you get 1.12 pounds? Doesn’t this mean that if the dollar depreciates, then the exchange rate should decrease?

So in the case of depreciation of the dollar, the paragraph says that it means that E_$/£ rises. But how is that possible?

If the E_$/£ is £1.12 as of now , and say, it becomes E_$/£ = £1.15. Before, with one dollar you could buy £1.12, but now you can buy more (£1.15). This means that the dollar has appreciated in value.

What am I getting wrong?