Hello there,
GBPUSD is seemingly building a symmetrical triangle on the daily chart.
We are currently experiencing hefty resistance at 1.2552 and might fall down.
Should resistance be broken the next resistance would be at 1.2556
at which a nice confluence of fibonacci, daily close resistance(blue line)
and the 25% pitchfork trendline would be waiting.
Should price now fall we could get a higher probability short trade in the future as it might
meet the 200 MA.
GBPUSD is seemingly building a symmetrical triangle on the daily chart.
We are currently experiencing hefty resistance at 1.2552 and might fall down.
Should resistance be broken the next resistance would be at 1.2556
at which a nice confluence of fibonacci, daily close resistance(blue line)
and the 25% pitchfork trendline would be waiting.
Should price now fall we could get a higher probability short trade in the future as it might
meet the 200 MA.
Comment:
I meant, we are experiencing hefty resistance @ 1.2520* and next resistance is @ 1.2556
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