Buy gbp on a bounce from 1.30639 | 31 July 2018
31 July 2018, GBP/USD
Technical Observation:
GBP is currently trading within the contracting triangular formation. I'm waiting for a bounce from the 4 hour support line 1.30639 to pick a long position, or a bounce from the upper trend line, acting as a resistance to the triangular formation, to pick a short position with my take profit at 1.30639. Should the price break above these lines, then I expect further movements towards the direction of the breakout. As it is on the 4 hour chart, a break below 1.30639 will culminate into a rally towards 1.29.
Trade Signal.
Buy gbp on a bounce from 1.30639
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The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
