GBP/USD Triangle Breakdown
Chart Prepared by Jamie Saettele, CMT
-The most recent update noted that “the triangle support line is just under the market and should be watched for support. Failure to hold would shift focus to 1.2612 (127.2% expansion of triangle width).” GBP/USD has broken through the bottom of the triangle. As such, focus is lower towards the mentioned 1.2612 and eventually the triangle objective at 1.2115. 1.2940/50 is resistance in the event of re-test of a relief rally.
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