FX.co ★ hickle.manuela | Comprehensive Analysis in Trading: Mastering Methodologies

Hello traders, The price of GBP/USD showed significant volatility during the past trading week, yet it remained within the boundaries of a narrowing triangle. The upper limit is at 1.3450, while the lower limit is at 1.3220. I assume that trading within these boundaries will continue for some time, followed by an impulsive breakout of these levels and a good movement. My priority is for further growth, but I am concerned by the fact that we did not reach the strong support zone around 1.3170 last week. Therefore, I do not exclude the possibility of a false downward breakout to the mentioned support level. Subsequently, I anticipate a strong impulsive rise towards 1.3500.