FX.co ★ GBPUSD M5: Bullish Symmetrical Triangle

According to the chart of M5, GBPUSD formed the Bullish Symmetrical Triangle pattern. The lower border of the pattern touches the coordinates 1.2436/1.2470 whereas the upper border goes across 1.2496/1.2470. If the Bullish Symmetrical Triangle pattern is in progress, this evidently signals a further upward trend. In other words, in case the scenario comes true, the price of GBPUSD will breach the upper border to head for 1.2485.