Great risk to reward opportunity on GBPUSD
Pound has failed 8 consecutive trading days to hold above 1.3720 VS the Dollar.
Considering how long the Pound has been in this ever- expanding megaphone pattern, you would expect a break to the upside.
But recent price action could suggest that we are in for a reversal. Maybe not all the way down to 1 dollar a'pound, but a subtantial correction before it can break out.
Please share your thoughts:)
Considering how long the Pound has been in this ever- expanding megaphone pattern, you would expect a break to the upside.
But recent price action could suggest that we are in for a reversal. Maybe not all the way down to 1 dollar a'pound, but a subtantial correction before it can break out.
Please share your thoughts:)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.