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.
