symmetrical triangle pattern forming in the GBP/USD currency pai
This chart shows a symmetrical triangle pattern forming in the GBP/USD currency pair. The price is consolidating within two converging trendlines, indicating a potential breakout.
Key observations:
1. Support and Resistance:
The lower trendline acts as dynamic support, with the price bouncing off it.
The upper trendline serves as resistance, capping upward movement.
2. Potential Breakout:
If the price breaks above the upper trendline, it may indicate a bullish continuation, targeting higher levels around 1.2300 or beyond.
A breakdown below the lower trendline could signal bearish momentum, with potential downside levels near 1.2150.
3. Volume Consideration:
Watch for increased volume during the breakout to confirm the move.
Traders might wait for confirmation of the breakout direction before entering trades.
Key observations:
1. Support and Resistance:
The lower trendline acts as dynamic support, with the price bouncing off it.
The upper trendline serves as resistance, capping upward movement.
2. Potential Breakout:
If the price breaks above the upper trendline, it may indicate a bullish continuation, targeting higher levels around 1.2300 or beyond.
A breakdown below the lower trendline could signal bearish momentum, with potential downside levels near 1.2150.
3. Volume Consideration:
Watch for increased volume during the breakout to confirm the move.
Traders might wait for confirmation of the breakout direction before entering trades.
Trade active
TARGET HIT
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✅ Provide Gold And All Pair Signals
✅ Minimum 1000 to 1500 Pips Weekly Target
✅ 97% Accuracy
✅ Account Management Service Available/Profit Share 50/50
t.me/FOREX_BRIGHT_FUTURE1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅ ✅ Perfect Signals Provider With 90% Accuracy
✅ Provide Gold And All Pair Signals
✅ Minimum 1000 to 1500 Pips Weekly Target
✅ 97% Accuracy
✅ Account Management Service Available/Profit Share 50/50
t.me/FOREX_BRIGHT_FUTURE1
✅ Provide Gold And All Pair Signals
✅ Minimum 1000 to 1500 Pips Weekly Target
✅ 97% Accuracy
✅ Account Management Service Available/Profit Share 50/50
t.me/FOREX_BRIGHT_FUTURE1
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.