The trading arrangement was spotted on the GBPUSD. The GBPUSD price has breached the support line of a Triangle pattern as of 20 Feb 2024 at 12AM. This could suggest a potential downturn in price over the next three days, possibly reaching 1.2551.

The pattern’s overall visual representation is of high quality. The uniformity rating is extremely high, indicating that the price changes are recurrent throughout the pattern’s formation. The trading arrangement is unambiguous, with only minor noise during the oscillations between support and resistance. The breakout through the support was rather weak. It would likely be prudent to wait for additional confirmation of this breakout before initiating a position.


You may also like

Comments are closed.