GBP/USD remembered the triangle

GBP/USD remembered the triangle

Recommendation:

SELL 1.3000, SL 1.3055, TP 1.2900

BUY 1.3125 SL 1.3070 TP1 1.3300 TP2 1.3500

On the daily chart, bears are trying to return GBP/USD inside the rising triangle. If they succeed, the possibility of the medium-term consolidation in the 1.2600-1.3000 will increase. On the contrary, rebound from the current support will increase the risks of continuation to the upside, towards 200% target of AB=CD.

GBP1.png

On H1, decline below 1.3000 will create the basis for correction to 1.2920 and 1.2900. For the uptrend to resume, the pair has to rise to July high.

GBP2.png

gbp

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