FX.co ★ GBPUSD M5: Triple Top

GBPUSD M5: Triple Top

Triple TopThe Triple Top pattern has formed on the chart of the GBPUSD M5. Features of the pattern: borders have an ascending angle; the lower line of the pattern has the coordinates 1.0738/1.0765 with the upper limit 1.0787/1.0789; the projection of the width is 49 points. The formation of the Triple Top figure most likely indicates a change in the trend from upward to downward. This means that in the event of a breakdown of the support level of 1.0738, the price is most likely to continue the downward movement.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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