GBPUSD Triangle Breakout And Short Opportunity
GBPUSD printing a contracting triangle on the smaller charts
Breakout of the triangle can be used as a selling opportunity
The breakout level – Entry – : 1.30270
The Key Support: 1.3000
Targets of the pattern: 1.30000 1.29700 1.29480
Stop: Above 1.30500
Update: TP2 Reached
Our first major target is 1.29700. We will close 40% of the positions at 1.29700 and move stop loss to entry.
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DISCLAIMER: This is a technical analysis study, not 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