Daily
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-GBP/USD price action since the October crash low has formed a triangle. Triangles can resolve in either direction but are typically (not always) continuation patterns. In this case, that would be lower. As such, I’m interested to see how Cable trades following today’s key reversal at the top of the range. The upper triangle barrier is near 1.2620 and a move through there would argue for bullish resolution.