Triangle on GBP/USD

Triangle on GBP/USD

On the GBP/USD currency pair, the "bearish" sentiment still prevails. The trading instrument has the potential to further reduce. At the moment, a classical figure of the technical analysis "Triangle" was formed, which quite often appears as a form of continuation of the current trend. The local support is the level of 1.32400. We recommend you to pay attention to this situation.

If the GBP/USD rate overcomes the support level of 1.32400, you need to look for entry points to the market to open short positions. The immediate goal for profit taking is the round level of 1.32000. The movement is tending to 1.31600-1.31500. When following a position, one should use a trailing stop.

by JustForex, 2017.10.03

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This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.