The GBP/USD pair on the M30 timeframe presents a Potential Buying Opportunity due to a recent breakout from a Triangle Pattern. This suggests a shift in momentum towards the upside and a higher likelihood of further advances in the coming hours.
Possible Long Trade:
Entry: Consider Entering A Long Position Above The Broken Trendline Of The Triangle After Confirmation. Ideally, This Would Be Around 1.2850 Target Levels: 1st Resistance – 1.2905 2nd Resistance – 1.2930
Stop-Loss: To manage risk, place a stop-loss order below 1.2814. This helps limit potential losses if the price falls back unexpectedly.
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Today High Impact News : GBP - BoE Interest Rate
Trade closed: stop reached
Britain's pound fell to its lowest level in three weeks on Thursday, as traders waited for a knife-edge Bank of England decision later in the day.
Pricing in derivatives markets showed traders think there is a roughly 62% chance the BoE lowers rates from 5.25%. That is similar to the odds on Wednesday and up from around 58% at the start of the week.🔈🔈
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