RLinda

RLinda ! GBPUSD-> Growth continuation pattern. What's next?

Long
FX:GBPUSD   Livre sterling / Dollar américain
GBPUSD is feeling confident amid the recovery after the attempted global trend change. The price strengthens to 1.20289, renewing the high of August 19, 2022, after which the price moves into the consolidation phase without a pullback.

(Chart1. Daily Timeframe. Technical Analysis)

The global chart shows price entering an upward range and seeking to retest resistance in the form of the daily MA-200. There is no strong decline and a triangle is forming in the uptrend on the lower timeframe.
The daily RSI is in the green zone.
The daily MACD is signaling a bullish trend, but at the same time hints of a global divergence are forming.

On the hourly chart, after setting a four-month high, price goes into consolidation and forms a triangle in an uptrend. This pattern indicates a continuation of the trend. I expect breakdown of the triangle resistance and growth of the price to the level of 1.21424

Regards R. Linda!

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