GBP/USD MULTI TIMEFRAME ANALYSIS

The pair is trading in a massive descending channel that is also part of a triangle.

Both the triangle and the channel structure allow the pair to move up to reach the resistance line of the triangle and the channel.

The one hour chart is also interesting. The pair was falling in a wedge and has reached an important local structure level.

We might see a breakout and then retest of the support>>long.

Or the pair ignores the structure, breaks below the level and continues bearish trend within the wedge.

Both outcomes provide decent trading opportunities.
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Wish you all luck in your trading.

Kommentar:

one more dollar pair idea, check it out!

Kommentar:

another GBP trade, take a look.