ForecastsForming Harmonic PatternsGBPUSD ForecastGBPUSD Technical AnalysisTechnical Analysis

GBPUSD Symmetrical Triangle Breakout And Trade Opportunity

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

 

GBPUSD :  Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. Chartreaderpro does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility

 

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