Cabana Capitals Blog Technical Analysis Confirmed breakout on GBPUSD 1 hour chart

Confirmed breakout on GBPUSD 1 hour chart

Confirmed breakout on GBPUSD 1 hour chart post thumbnail image

GBPUSD has broken through a line of 1.2613 and suggests a possible movement to 1.2560 within the next 18 hours. It has tested this line numerous times in the past, so one should wait for a confirmation of this breakout before taking any action. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 7 days.

Supported by Downward sloping Moving Average

Target: 1.256 Entry: 1.2586 Stop: 1.267

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Post