capitalpropertiesfx

GBPUSD - triangle in progress?

FX:GBPUSD   British Pound/U.S. Dollar
81 0 0
Pound certainly looks interesting, however, if this truly is a triangle, it is too early to tell which way it might break. Given the recent price action, I lean towards a bullish outcome but one must not forget that higher TF trend is clearly down.

There are plenty of UK data coming out this week, so we should get more clues during the week. Ideally, this structure should hold until BOE on Thursday.

Time will tell. Watching.
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