GBPUSD - BATTLEING THE TRAINGLE
GBPUSD has been like a rocket past months. We are now seeing a triangle getting formed. We could have two possible directions from here, since there's a battle with COT positions and retail traders are waiting to confirm if this is a retracement before continuing to the upside or, a sign of a trend reversal.
If we see a break of the triangle upwards, we might get GBPUSD reaching 1.43500 before doing any move.
Or
We could see a breakdown and we could expect a drop until 1.33000, consider a retest, before dropping to the next KEY AREA.
We should expect any movements soon, as we are approaching end of the month and COT data is battling with Longs and short.
If we see a break of the triangle upwards, we might get GBPUSD reaching 1.43500 before doing any move.
Or
We could see a breakdown and we could expect a drop until 1.33000, consider a retest, before dropping to the next KEY AREA.
We should expect any movements soon, as we are approaching end of the month and COT data is battling with Longs and short.
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