UnknownUnicorn15614419

GBPUSD: can the price continue to rise in the channel?

Long
FX:GBPUSD   British Pound / U.S. Dollar
The price growth has been maintained since March 2020 - the movement formed a trend, which is based on the support and resistance lines, formed also in March. In February, the price collapsed from a strong resistance zone (trend line + level) at 1.424 and formed a small trend - the Wedge pattern. Now the price is at the support zone 1.378. During the past week, she bounced off this zone and returned to her place - she was entrenched. Now we can expect growth to the level of resistance at 1.424.
SL - 1.353.

Remember, there is no place for luck in trading - only strategy!
Thanks for the likes and comments.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.