GBP/USD : Formation : triangle


Technical analysis – time frame H4

The price is forming formation “triangle”

Technical indicators : The price stopped at FiBo 50 % of the last short movement ,as well as diagonal support (
current resistance ).

The price is below 50 SMA and 100 SMA

Entry : 1.42

SL: 1.4341

Alternative scenario : If the price breaks out diagonal support the market will enter in choppy

Jr.Trader: V. Mitov

 Varchev Traders

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance