FxKool

Classic Triangle Pattern GBPUSD?

FX_IDC:GBPUSD   Britisches Pfund / US-Dollar
12 0 1
Don't go into details here. Just trade the price action. As you may notice from the graph GBPUSD             is being traded in a squeezed range. The pair has been in descending channel since March 18th and perfectly bounced off the tops for 3 times. We could see the 4th time now as long as cable closes below 1.42800.

My second forecast is that the pound will reach 1.43500+ and start off its journey down to 1.3800+. Will drop another view on it shortly. Trade safe
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