RCtrader2
Short

GBPUSD 20-30 January 2020

FX:GBPUSD   British Pound / U.S. Dollar
One could spot a descending triangle on the GBPUSD chart, now that the week is finished. The alignment of the candles on the H4 or daily chart sets out the premises for a bear run to 1.2820, the previous support, and possibly more later on.
Comment: Your thumbs up and comments are much wanted and I am grateful to receive them.
Trade active: The pair reached the bottom of the triangle and was rejected, I believe it will retest the area.
Trade active: The pair spiked due to positive data being released.
Trade active: The pair has neared the upper limit of the descending triangle.
Trade active: The price has moved beyond the upper limit of the descending triangle.
Trade closed: stop reached: Even if the price might return to retest the upper limit of the descending triangle, it gave today a strong bullish signal and so I look forward to going long.

Comments

The RSI also indicates the overbought trend so I think a downward trend is close to happen
Reply
RCtrader2 Danforg007
@Danforg007, I aim for 1.3050
Reply
Exactly what I have
+1 Reply
Awesome
Reply
RCtrader2 awesomejaymes
@awesomejaymes, Thanks. It might spend a day or two within the triangle.
+2 Reply
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