FX:GBPUSD   British Pound / U.S. Dollar
Will the bouncing continue?

We see a clearly defined, triangle-narrowing movement on this pair as we're respecting both structure and trendlines more and more lately. We're heading into a triangle, and price-action seems pretty determined.

IF it continues we could pick up some profit on the way. It might aswell be a trap, with a break to the upside.

I chose to enter, because of above, and we also see a double top , respecting the trendline, and we ALMOST see a 2618 in the 15 minute chart ( bearish candle did not close below the lowest low of the V point between the double top ) I did however initially base this setup on the hourly.

Risk to reward is good enough for me. No matter the outcome, it will be interesting to follow - will this pair stay determined on its bouncy narrowing route?
Trade closed: target reached: Bat pattern is now completing, seen best on the hourly


BoOoOooOoM Thank you , great trade , target hit !
@SonerB. Nice, glad you caught it. :)
SonerB timmynorin
@timmynorin, Looking forward to future charts :)