Descending triangle on the GBP/USD:
- Price keeps bouncing off $1.29 support level (red horizontal line)
- 1-hour chart clearly shows a perfect example of a descending triangle, getting narrower between the upper downwards trend line and the major $1.29 support level
- Given a situation where Brexit trade talks fail and tensions rise even more between London and Brussels, then eventually we could see a breakout below the $1.29 level at the end of the descending triangle
- However, if Bernie Sanders keeps dominating in the US, then things might go quite differently. Though indication of a bearish pattern is strong here.
- If bearish breakout happens, next major support level is $1.28 (green horizontal line)
**Note that I am not responsible for your trading decisions. It is solely your responsibility to make your own decisions ;)
- Price keeps bouncing off $1.29 support level (red horizontal line)
- 1-hour chart clearly shows a perfect example of a descending triangle, getting narrower between the upper downwards trend line and the major $1.29 support level
- Given a situation where Brexit trade talks fail and tensions rise even more between London and Brussels, then eventually we could see a breakout below the $1.29 level at the end of the descending triangle
- However, if Bernie Sanders keeps dominating in the US, then things might go quite differently. Though indication of a bearish pattern is strong here.
- If bearish breakout happens, next major support level is $1.28 (green horizontal line)
**Note that I am not responsible for your trading decisions. It is solely your responsibility to make your own decisions ;)
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Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.