GBPUSD Symmetrical Triangle Breakout And Trade Opportunity
GBPUSD is trading in a symmetrical triangle.
Bullish Breakout will carry the price 1.32500 and a bearish breakout 1.3000 psychological level.
The pair moved above EMA 50 on the H4 chart. US PCE, Personal Income/Spending will be released today. It is likely to test 1.31800. This level is the bullish breakout level. A break above 1.31800 will take the price 1.32500. We will look for a bearish retracement at 1.32500.
A bearish breakout of the triangle – somewhere 1.31250 – will take the price 1.130900 and 1.30600
We will send entry notification according to the direction of the breakout.
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DISCLAIMER: This is a technical analysis study, not an advice or recommendation to invest money
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