GBPUSD. Symmetrical triangle patttern, daily chart.
Hey traders!
Taking a look to this pair I found an interesting pattern to follow. The symmetrical triangle is showing us the big congestion the pair has taken in last weeks. The first breakout, that was a false one, happened at the beginning of the triangle and it could make us think about a dissolution of the formation that was starting.
As I always say, when we find a triangle pattern, we should wait until the breakout passed, at least, the E signal drawn to follow the trend of that breakout. Also the fundamental news that are to come today for the pound and the dollar can give to the pair the enough strenght to make the real breakout.
Let's see what the market gives us.
Regards.
Taking a look to this pair I found an interesting pattern to follow. The symmetrical triangle is showing us the big congestion the pair has taken in last weeks. The first breakout, that was a false one, happened at the beginning of the triangle and it could make us think about a dissolution of the formation that was starting.
As I always say, when we find a triangle pattern, we should wait until the breakout passed, at least, the E signal drawn to follow the trend of that breakout. Also the fundamental news that are to come today for the pound and the dollar can give to the pair the enough strenght to make the real breakout.
Let's see what the market gives us.
Regards.
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