ThaboZA

Possible +80 Pip GBPUSD Range Breakout!

FX:GBPUSD   British Pound/U.S. Dollar
4 months ago
GBPUSD             has been in a +80 pips range for the past 4 days or so, and is likely to breakout of this range anytime soon. The MACD and the RSI are favoring a bullish breakout since they are both showing clear signs of positive divergence. On a much bigger scale, GBPUSD             formed a falling wedge from the July highs at 1.34768. A bullish breakout of the range will result in a bullish breakout of the falling wedge (likely to happen) but if we have a bearish breakout of the range - the falling wedge's diagonal support could be this pair's next support level.

Bullish breakout means the possibility of more more pips to bag.

What do YOU think?
ANYTHING CAN HAPPEN!
4 months ago
Comment: Forgot to mention FOMC! Anything can happen!
4 months ago
Trade closed: target reached: :) Ca$hed in

Related Ideas

hatzitesla
4 months ago
if FOMC wont cut any rates I see this channeling
Reply
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