GBP/USD remembered the triangle

GBP/USD remembered the triangle

2019-11-11 • Updated

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

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