GBP/USD has broken through the support line of a Descending Triangle technical chart pattern. Because we have seen it retrace from this line in the past, one should wait for confirmation of the breakout before taking any action. It has touched this line twice in the last 3 days and suggests a possible target level to be around 1.2424 within the next 15 hours.
Related Posts
We expect USDCAD to trend upwards for the next 4 hours.
We expect a $343 movement on USDCAD within the next 4 hours. We expect USDCAD to trend upwards…
USD/CHF breakout from a Channel Up trade setup. Will it continue this trend to hit the target price?
The breakout of USD/CHF through the support line of a Channel Up could be a sign of the…
GBP/USD is currently testing a level of 1.2518. Will the breakout continue or will things reverse?
GBP/USD has broken through a line of 1.2518. If this breakout holds true, we could see the price…