British Pound / U.S. DollarUpdated GBPUSD BUY TP 1.29117 SL 1.28600
This is a GBP/USD (British Pound to U.S. Dollar) price chart on the 1-hour timeframe from TradingView. The chart shows a symmetrical triangle pattern forming, which is a consolidation pattern indicating potential breakout directions.
Key Elements:
1. Triangle Pattern – The price is compressing within converging trendlines, forming a symmetrical triangle.
2. Harmonic Pattern (ABCD) – The pattern is drawn inside the triangle, showing potential price reactions.
3. Breakout Expectation – The chart suggests a possible breakout to the upside.
4. Take Profit (TP) Levels:
TP1: 1.2900 – The first target for profit-taking.
TP2: 1.29117 – A higher target if the breakout sustains momentum.
5. Current Price – The price is around 1.28816, close to the breakout zone.
6. Stop Loss (SL) Zone – Not explicitly marked, but the red price levels near 1.28646 indicate potential risk zones.
Interpretation:
If the price breaks above the triangle, it may move towards TP1 and TP2.
If the price breaks downward, it could invalidate the bullish setup.
Traders might wait for confirmation before entering trades.
Key Elements:
1. Triangle Pattern – The price is compressing within converging trendlines, forming a symmetrical triangle.
2. Harmonic Pattern (ABCD) – The pattern is drawn inside the triangle, showing potential price reactions.
3. Breakout Expectation – The chart suggests a possible breakout to the upside.
4. Take Profit (TP) Levels:
TP1: 1.2900 – The first target for profit-taking.
TP2: 1.29117 – A higher target if the breakout sustains momentum.
5. Current Price – The price is around 1.28816, close to the breakout zone.
6. Stop Loss (SL) Zone – Not explicitly marked, but the red price levels near 1.28646 indicate potential risk zones.
Interpretation:
If the price breaks above the triangle, it may move towards TP1 and TP2.
If the price breaks downward, it could invalidate the bullish setup.
Traders might wait for confirmation before entering trades.
Trade active
Trade active From 1.28816 PROFIT RUNNING Trade closed: target reached
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🔵ᴠɪᴘ ꜱɪɢɴᴀʟꜱ BTC, XAUUSD, GBPUSD
🔵ɢʀᴏᴡᴛʜ ʀɪᴄʜ ɪɴ ꜰᴏʀᴇx ᴛʀᴀᴅɪɴɢ
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🔵ᴠɪᴘ ꜱɪɢɴᴀʟꜱ BTC, XAUUSD, GBPUSD
🔵ɢʀᴏᴡᴛʜ ʀɪᴄʜ ɪɴ ꜰᴏʀᴇx ᴛʀᴀᴅɪɴɢ
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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.