GBP/USD 12.03.2019 – The breakout of the 1-month long symmetrical triangle to the upside, strong potential for test 1.3167

By | December 3, 2019
InstaForex

Relevance up to 06:00 2019-12-05 UTC–8

GBP/USD did breakout of the 1-month long continuation symmetrical triangle, which is good indication for the further upside movement. Watch for buying opportunities on the dips. Projected target is set at the price of 1.3170.

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MACD is showing increase on the upside momentum and new wave up, which is good confirmation for our long bias.

Support levels are seen at the price of 1.2947 and 1.2877. Resistance level is seen at the price of 1.3167.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2019

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