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FirstNameHelen
Apr 16, 2023 10:16 AM

HelenP. I GBPUSD trades in triangle and may break support line Short

British Pound/U.S. DollarFXCM

Description

Hi folks today I'm prepared for you BRITISH POUND analytics. The price rebounded from the support level 1.1810, began to rise and broke through the resistance zone 1.2095-1.2145. After a slight correction, the British Pound continued to move up for a long time and created an ascending triangle. Retesting the trend line, the price continued to rise and reached the resistance zone of the triangle. Next, British Pound made a deep downward correction and continued to rise. The price reached the level 1.2545, from which it fell to the trend line. Currently, the price is trading above the trend line, but may continue to fall and break through it. I hope that the British Pound may be able to break through support for the triangle and continue to decline. Therefore, the target for GBPUSD will be set at 1.2340. If you like my analytics you may support me with your like/comment ❤️
Comments
ProjectSyndicate
excellent market timing
DeGRAM
Great job.
P_S_trade
Thanks for sharing your vision
KABHI_FOREX_TRADING
Trendline Breakout, Good to sell , Nice
linofx1
Supported:)
VasilyTrader
Thank you for posting this idea.
pejman_zwin
Such a trade.🤓
JoeChampion
Brilliant, it makes sense especially after the hawkish fed comment!
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