GBPUSD 4H Triangle & Range Box Breakout Long
Updated
Pair has broke long both the top Triangle Trendline and the top of the range box. I am watching to see if the market fails to progress higher and fails. It will fall or move sideways but if price comes back into the range box it will have a strong bearish momentum behind it. I have placed a sell stop @ 1.2978 to catch the fall. My TP is above the 23.6% fib @ 1.2890.
Note
Still watching if bullish continuation trend fails. Price pausing at the 61.8% fib. If it falls I will enter just below the 50% fib @ 1.3015. I also have a sell stop @ 1.2978.
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