Trade of the Day GBPUSD

GBPUSD runaway breakout

 

GBPUSD is breaking above the falling wedge and also a 1.3900 horizontal resistance. This break is opening a swing higher in the long-term consolidation triangle to 1.4200. Support for the upside continuation is 1.3900 and only a reversal break below this level could lead to a test of 1.3600 lower again.

Note: you can enter the short trade entry with the stop loss above 93 and go short the USD against other pairs, in the case of a stop out reverse to long

 

GBPUSD  price action analysis

 

 

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