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British Pound / U.S. Dollar
Short
Updated

GBP/USD - H1 Chart - Triangle Breakout (31.01.2025)

The GBP/USD Pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent Formation of a Triangle Breakout Pattern. This suggests a shift in momentum towards the downside in the coming hours.

Possible Short Trade:
Entry: Consider Entering A Short Position around Trendline Of The Pattern.

Target Levels:
1st Support – 1.2342
2nd Support – 1.2295

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Take Entry now
Note
The British pound is losing value for the fourth month in a row because the UK economy is weakening. This is due to problems like high bond yields, rising unemployment, and less consumer spending. The Bank of England might cut interest rates to help. Additionally, trade tensions with the U.S. are adding to market worries.
Note
The White House announced new tariffs on imports from Mexico, Canada, and China. These are taxes on goods coming into the U.S. The tariffs are 25% on goods from Canada and Mexico, 10% on energy products from Canada, and 10% on goods from China.
Trade closed: target reached
snapshot

with Great Profit
Note
Many Forex pairs start with a gap, and the USD is also performing strongly.
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