GBP/USD: The pound left the triangle

GBP/USD: The pound left the triangle

Recommendation:

SELL 1.266 SL 1.2715 TP1 1.256 TP2 1.246 TP3 1.22

On the daily chart of GBP/USD, bears managed to move the pair outside the triangle. The pair needs to stick below 1.27 and fall to the August minimum to continue going down. If the August minimum is successfully updated,  the AB=CD pattern with the 161.8% target will be activated. It will comply with the 1.22 level.

gbpusd_d.png

On H1, bears are planning to implement the AB=CD pattern. They keep the situation under control until the pair returns to the resistance at 1.2925. 

gbpusd_60.png

gbp

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Latest news

GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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