TradersClassroom

GBPUSD Channelling in a Contracting Triangle

FX:GBPUSD   British Pound/U.S. Dollar
45 1 2
This pair is holding the upward trendline from mid April. Since mid June however, we have put in a downward channel. Both of these have held. Look price action as we near the top of the channel. This area coincides with the .382 and horizontal resistance (red line). A break of this area will put in focus the top of the triangle. A touch of the top of the triangle would also be point e if you're an elliott wave person, in which would look for a downward break of the wedge in a more immediate fashion.
Ice400 PRO
a year ago
lovelly
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out