Hello Everyone,
1) As you all can see we are in trend support area, and we also had lower highs in the 2hr frame ,creating triangle pattern as well( check out RSI too to confirm the pattern). If we breakout the triangle towards upwards, I expect to see a buy pressure, and then a rebound from the resistance area in the middle(yellow area) and then all the way up towards the trend resistance area.
2) If price breaks out towards downwards from the support area, then I expect to see high sell pressure.
Tip : I strongly recommend to look at the big picture by identifying the pattern we expect to be with us in the USDGBP side. To do this, I'd wait for a breakout and the best time to open a position would be just after a correction or a rebound.
Important Note : This is not an investment advice. This analysis is prepared for educational purposes and individuals should definitely make their own research before trading or investing.
Thank you
-Justanordinarypeople-
Hope you all have a good day :)
1) As you all can see we are in trend support area, and we also had lower highs in the 2hr frame ,creating triangle pattern as well( check out RSI too to confirm the pattern). If we breakout the triangle towards upwards, I expect to see a buy pressure, and then a rebound from the resistance area in the middle(yellow area) and then all the way up towards the trend resistance area.
2) If price breaks out towards downwards from the support area, then I expect to see high sell pressure.
Tip : I strongly recommend to look at the big picture by identifying the pattern we expect to be with us in the USDGBP side. To do this, I'd wait for a breakout and the best time to open a position would be just after a correction or a rebound.
Important Note : This is not an investment advice. This analysis is prepared for educational purposes and individuals should definitely make their own research before trading or investing.
Thank you
-Justanordinarypeople-
Hope you all have a good day :)