946
I've been trading for 15 years, so I have a lot of things to share. I use the classic technical analysis, which is one of the most powerful tool for any trader.

GBP/USD: bears trying to escape from the "Triangle"

GBP/USD: bears trying to escape from the "Triangle"

The pair has been moving in a range of the current “Triangle” pattern. If the price gets a support at 1.3116, bulls will likely try to reach a resistance at 1.3289 shortly. However, bears are still in the game, so we should keep an eye on the next support at 1.2849 – 1.2795.

GBP/USD: bears trying to escape from the "Triangle"

As we can see on the one-hour chart, the price try to find a lodgement under the broken “Triangle”. At the same time, there’s a “Double Bottom” right after a support at 1.3063. So, the market is likely going to get a resistance at 1.3238 – 1.3273. If we see a pullback from this area, another bearish movement will be on the table.

Scroll to top