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 ;)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.