GBPUSD 1h Perspective on Symmetrical Triangle
This is simply my view on this pair with no bias, as no breakout has formed yet. (One that I can see at least).
So, with my Neutral view;
I would go long if the triangle resistance is broken, and short if the triangle support is broken.
It is unwise to buy and sell within the triangle at this point, as I have learned with CADJPY last week.
- Price has reached the apex, or tip of the triangle, and it will likely break out very clearly, sometimes soon after Tokyo open on Sunday.
So, with my Neutral view;
I would go long if the triangle resistance is broken, and short if the triangle support is broken.
It is unwise to buy and sell within the triangle at this point, as I have learned with CADJPY last week.
- Price has reached the apex, or tip of the triangle, and it will likely break out very clearly, sometimes soon after Tokyo open on Sunday.