Hi Traders!
GBPUSD is under serious pressure, and there is a possibility of price breaking below the four-month low.
Price Action π
The market has reached the four-month low, creating a descending triangle pattern on the chart.
We are looking for further bearish momentum to break and close the trendline support line.
Fundamental Analysis π°
The market's outlook on GBP is currently negative due to weak economic data recently released. Traders will be looking for positive statements from the Monetary Policy Summary later today.
Β
Support π
1.23081: 4 MONTH LOW
Resistance π
1.24216: PREVIOUS DAY'S HIGH
Risk β οΈ
No more than 2% of your capital.
Reward π°
At least 4% of your capital.
Please make sure to click on the like/boost button π as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
GBPUSD is under serious pressure, and there is a possibility of price breaking below the four-month low.
Price Action π
The market has reached the four-month low, creating a descending triangle pattern on the chart.
We are looking for further bearish momentum to break and close the trendline support line.
Fundamental Analysis π°
The market's outlook on GBP is currently negative due to weak economic data recently released. Traders will be looking for positive statements from the Monetary Policy Summary later today.
Β
Support π
1.23081: 4 MONTH LOW
Resistance π
1.24216: PREVIOUS DAY'S HIGH
Risk β οΈ
No more than 2% of your capital.
Reward π°
At least 4% of your capital.
Please make sure to click on the like/boost button π as your support greatly helps.
Trade safely and responsibly.
BluetonaFX
Trade active:
Support trendline broken
Comment:
Chart idea complete
Trade closed: target reached