GBP/USD long opportunity!

26 Nis 2017

As can be seen from the chart, we have witnessed the formation of a symmetric triangle on the cable, confirmed by decreasing volumes. Thanks to the news of early elections that have put confidence in the pound, It was generated a strong breakout of congestion. Using Fibonacci retracements and helping us with Elliott's wave structure, we could see a retraction in the range of 1,26300 / 1.26 from which the movements could find great strength to break the resistance and score new maximums. We are therefore willing to buy this pair with targets in zone 1.34.