Probable Retracement to Descending Triangle Support Zone
GBPUSD has been consolidating in a descending triangle formation since late December after an uptrend throughout November and December 2023. The pair is currently struggling around the upper resistance zone of the descending triangle. We anticipate a retracement to the support zone of the triangle pattern around 1.2613.
🔴 Sell Entry: 1.2747
🎯 Target: 1.2613
⛔️ Stop: 1.2797
All forms of investments carry risks, including the risk of losing more than the invested amount and may not be suitable for everyone. This advertisement has not been reviewed or endorsed by the Monetary Authority of Singapore. Please ensure you fully understand the risks and costs involved by reading the Risk Disclosure on phillipnova.com.sg.
🔴 Sell Entry: 1.2747
🎯 Target: 1.2613
⛔️ Stop: 1.2797
All forms of investments carry risks, including the risk of losing more than the invested amount and may not be suitable for everyone. This advertisement has not been reviewed or endorsed by the Monetary Authority of Singapore. Please ensure you fully understand the risks and costs involved by reading the Risk Disclosure on phillipnova.com.sg.
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