BluetonaFX - GBPUSD Descending Triangle SHORT Idea
Hi Traders!
GBPUSD is under serious pressure, and there is a possibility of price breaking below the four-month low.
Price Action 📊
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 📰
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.
Support 📉
1.23081: 4 MONTH LOW
Resistance 📈
1.24216: PREVIOUS DAY'S HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
GBPUSD is under serious pressure, and there is a possibility of price breaking below the four-month low.
Price Action 📊
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 📰
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.
Support 📉
1.23081: 4 MONTH LOW
Resistance 📈
1.24216: PREVIOUS DAY'S HIGH
Risk ⚠️
No more than 2% of your capital.
Reward 💰
At least 4% of your capital.
Please make sure to click on the like/boost button 🚀 as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Trade active:
Support trendline broken
Comment:
Chart idea complete
Trade closed: target reached