Technical Overview:
Pattern Identified: Symmetrical Triangle Formation
Price action has been consolidating within a symmetrical triangle, indicating a potential breakout.
Current Status:
GBP/USD is breaking down from the lower boundary of the triangle, signaling bearish momentum.
Key Levels:
Resistance Zone: Around 1.3400 – 1.3440, previously tested multiple times.
Support Turned Resistance (RS Interchange): Near 1.3180 – 1.3200.
Stop Loss: Suggested above resistance at 1.3440 (to invalidate the triangle breakdown).
Target: 1.29527 – based on triangle height projection and key horizontal support.
🔍 Trade Plan:
Entry: On confirmed break and retest of the triangle's lower trendline.
Stop Loss: Above 1.3440.
Take Profit: Targeting 1.29527, aligning with previous support zone.
Risk/Reward: Favorable setup if risk is controlled at resistance.
📌 Notes:
This setup assumes continuation of bearish pressure after the triangle breakdown.
Watch for any fundamental GBP/USD catalysts (e.g., UK economic releases or US dollar strength).
🧠 Disclaimer:
This is not financial advice. Always conduct your own analysis or consult a professional before trading.
Pattern Identified: Symmetrical Triangle Formation
Price action has been consolidating within a symmetrical triangle, indicating a potential breakout.
Current Status:
GBP/USD is breaking down from the lower boundary of the triangle, signaling bearish momentum.
Key Levels:
Resistance Zone: Around 1.3400 – 1.3440, previously tested multiple times.
Support Turned Resistance (RS Interchange): Near 1.3180 – 1.3200.
Stop Loss: Suggested above resistance at 1.3440 (to invalidate the triangle breakdown).
Target: 1.29527 – based on triangle height projection and key horizontal support.
🔍 Trade Plan:
Entry: On confirmed break and retest of the triangle's lower trendline.
Stop Loss: Above 1.3440.
Take Profit: Targeting 1.29527, aligning with previous support zone.
Risk/Reward: Favorable setup if risk is controlled at resistance.
📌 Notes:
This setup assumes continuation of bearish pressure after the triangle breakdown.
Watch for any fundamental GBP/USD catalysts (e.g., UK economic releases or US dollar strength).
🧠 Disclaimer:
This is not financial advice. Always conduct your own analysis or consult a professional before trading.
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Penerbitan berkaitan
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.