Autochartist Forecast
GBP/USD Breaks Triangle Support
On the 60-minute GBP/USD chart, price has broken lower through the uptrend line support of an Ascending Triangle pattern, at 1.5040. Ascending Triangles are characterized by uptrend line support coupled with a horizontal ceiling; in a distribution market, traders will often short the ceiling in expectation of exhasution. In an accumulation market, on the other hand, the support and resistance levels are watched closely for breakouts and breakdowns.
Source : communications@autochartist.com (Communications)
5 March | 
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