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GBP/USD Triangle Target Hit on ’Normal Sized Finger’ Crash

GBP/USD Triangle Target Hit on ’Normal Sized Finger’ Crash

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last update noted that “GBP/USD has broken through the bottom of the triangle. As such, focus is lower towards 1.2612 (127.2% expansion of triangle width) and eventually the triangle objective at 1.2115.” GBP/USD crashed 2 days after the pattern breakdown and reached its pattern objective in the process. Given the measurement, the rate could attempt to stabilize.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.