Traders, brace yourselves for an intriguing setup on the 1-hour timeframe for GBP/USD that you can't afford to miss:
📌 Technical Analysis Highlights 📌 🔽 Descending Triangle Breakout: The recent price action has delivered a convincing breakout from a descending triangle pattern, laying the foundation for a trend continuation setup.
📈 Moving Average Resistance: To further bolster the case for a trend continuation, the moving average is acting as a steadfast resistance, combining forces with the descending triangle breakdown.
📈 Trade Strategy 📈 This setup isn't just an opportunity; it's a smart move in line with the prevailing trend. Trading with the trend is consistently more rewarding than attempting countertrend strategies.
💼 Risk Management: Mitigate risk effectively by placing your stop loss above the resistance zone.
🎯 Take Profit Targets 🎯 1️⃣ First Target: 1.21350 2️⃣ Ultimate Target: 1.20500
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