Cable Under Pressure In Symmetrical Triangle

Jahan Ara FXQ MARKET RESEARCH

Since Cable failed to break on the higher side, #gbpusd is trading in a range between 1.2350-1.2680. in between this range on intraday charts cable now formed a symmetrical triangle and it seems that pressure towards downside is increased. A break below support @ 1.2380-90 area can add further pressure to take the $GBPUSD down towards 1.2250. while the resistance remains strong at 1.2500-20 area.

Author

Jahan Ara

FXQ MARKET RESEARCH

FXQ Market Research publishes the unbiased opinion about the Forex market to help you make a batter decision. Detail information about possible entry and exit points, risk possibilities, reward expectations are part of FXQ Market Updates.

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