GBP/USD: will pound return to the triangle?

GBP/USD: will pound return to the triangle?


SELL 1.326 SL 1.3315 TP1 1.316 TP2 1.306

SELL 1.319 SL 1.3245 TP1 1.309 TP2 1.299

On the daily chart, bulls attempted to lead GBP/USD outside of the triangle and develop correction to the short-term downtrend. If the pound manages to break above 1.3340, risks of continuation to the upside to 1.3415 and 1.3520 will increase. On the other hand, the return of the pair to the triangle will return the initiative to bears.


On H1, GBP/USD may form “Wolfe waves” pattern. The decline of the pound below 1.3190 will increase the odds of triggering the “Widening wedge” pattern.




Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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