BluetonaFX

BluetonaFX - GBPUSD Descending Triangle SHORT Idea

Short
BluetonaFX Updated   
OANDA:GBPUSD   British Pound / U.S. Dollar
Hi Traders!

GBPUSD is under serious pressure, and there is a possibility of price breaking below the four-month low.

Price Action πŸ“Š

The market has reached the four-month low, creating a descending triangle pattern on the chart.

We are looking for further bearish momentum to break and close the trendline support line.

Fundamental Analysis πŸ“°

The market's outlook on GBP is currently negative due to weak economic data recently released. Traders will be looking for positive statements from the Monetary Policy Summary later today.
Β 
Support πŸ“‰

1.23081: 4 MONTH LOW

Resistance πŸ“ˆ

1.24216: PREVIOUS DAY'S HIGH

Risk ⚠️
No more than 2% of your capital.

Reward πŸ’°
At least 4% of your capital.

Please make sure to click on the like/boost button πŸš€ as your support greatly helps.

Trade safely and responsibly.

BluetonaFX
Trade active:
Support trendline broken
Comment:
Chart idea complete
Trade closed: target reached

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