Analysis of #GBPUSD
Hi traders, today we will have a look at #GBPUSD
looking at the chart here you can see that we have the GBPUSD consolidating inside this triangle pattern.
I still believe the market might breakout to the upside, above 1.2420, so we can trade the bullish inside of the triangle, as you can see we have the 4-h structure support zone which is also the trendline support level
we could wait for the market to break above the trendline resistance and then enter in the direction of the breakout if the market provides trend continuation opportunities like a flag, channels, or double bottom at trendline resistance
I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one
Thanks for your continued support!
Hi traders, today we will have a look at #GBPUSD
looking at the chart here you can see that we have the GBPUSD consolidating inside this triangle pattern.
I still believe the market might breakout to the upside, above 1.2420, so we can trade the bullish inside of the triangle, as you can see we have the 4-h structure support zone which is also the trendline support level
we could wait for the market to break above the trendline resistance and then enter in the direction of the breakout if the market provides trend continuation opportunities like a flag, channels, or double bottom at trendline resistance
I hope you guys found this helpful, if you are new here click on follow, to get these ideas delivered straight to your email inbox, I will see you guys at the next one
Thanks for your continued support!
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