GBP/USD | TREND LINES + SUPPORT & RESISTANCE (4 HOUR CHART)
PRICE IS ON POSITIVE UP TREND
BLUE TREND LINE
NOTE | PLACED ON LOWER LOWS
NOTE | SUPPORT
PURPLE TREND LINE
NOTE | BLUE TREND LINE COPIED & PASTED
NOTE | PLACED ON HIGHER HIGHS
NOTE | RESISTANCE
POTENTIAL SPACE FOR BUYERS
The French shares have been moving higher so we believe this may be a breakout overpowering the sellers at around the 5505 area and continue to an upward trend and benefit our trade.
However it does appear that price is moving in to a triangle trend line so price may get squeezed by the pressure of the Bulls and the Bears before the CAC 40 Breakout is achieved.