jangseohee

Monthly movement, GBPUSD

FX:GBPUSD   British Pound/U.S. Dollar
204 5 4
Seems that GBPUSD             are in the thick downtrend.
Since 2009, this pair has engaged itself in ascending triangle within this downtrend, and worst of all, the price had a false break out on the upside only to be rejected by the channel top resistance.
Depend how quickly it falls, i reckon it might be 1.55000 in futures if the current triangle holds.
Neel_K PRO
2 years ago
This was 3months ago! Do you see the the price heading to the bottom of red channel now or ..is there another smaller channel forming somewhere in between?
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jangseohee Neel_K
2 years ago
daily chart: its oversold for the moment. that small spike shows that buying is coming in
snapshot
+1 Reply
jangseohee Neel_K
2 years ago
i didnt trade this pair, bcoz i make it a point that i never trade in between unless necessary
to minimize risk
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Neel_K PRO jangseohee
2 years ago
ah Ok. !
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jangseohee Neel_K
2 years ago
but in my description above i did expect price to drop to 1.55 if the triangle holds
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