Sell GBPUSD Triangle Breakout
Updated
The GBP/USD pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a triangle pattern.
Sell Entry: Consider entering a short position around the current price of 1.2675, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: Initial bearish targets lie at the following levels: 1.2618 and 2.2595.
Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the triangle, ideally around 1.2720. This helps limit potential losses if the price reverses and breaks back upwards.
Thank you.
Sell Entry: Consider entering a short position around the current price of 1.2675, positioned close to the breakout level. This offers an entry point near the perceived shift in momentum.
Target Levels: Initial bearish targets lie at the following levels: 1.2618 and 2.2595.
Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the triangle, ideally around 1.2720. This helps limit potential losses if the price reverses and breaks back upwards.
Thank you.
Trade active
Safe-haven flows: Ongoing geopolitical tensions and concerns about a global economic slowdown are driving investors towards safe assets like the USD.Hawkish Fed expectations: The market anticipates the Federal Reserve to maintain its hawkish stance on monetary policy, further supporting the USD.
Note
Note
The dollar jumped against the euro and yen on Wednesday as investors positioned for U.S. and European inflation data due on Thursday, with month-end portfolio rebalancing also likely to sway market direction.Trade closed: target reached
Closed manually with Good ProfitNote
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