RLinda

RLinda ! GBPUSD-> Channel support test. Will there be a rebound?

Long
FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD is in an ascending range. The currency pair is clearly observing the upward support line. Formation of a pattern, which is interpreted as "continuation of the trend"

The price pulls back from the high of 1.2153 and a "symmetrical triangle" is formed from the support line near the uptrend support area. I think that breakdown of the pattern resistance will allow to form an imulsion towards 1.2293

I assume that the price will continue rising in case we see a breakdown of the triangle resistance. It gives the potential to grow to 1.2293, and the next target is 1.2405.
But nobody can rule out a break-down of the pattern support, in which case the price might fall to 1.1933

Regards R.Linda!

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