Aurum Markets Blog Technical Analysis Either a rebound or a breakout imminent on GBPUSD

Either a rebound or a breakout imminent on GBPUSD

Either a rebound or a breakout imminent on GBPUSD post thumbnail image

GBPUSD is heading towards the resistance line of a Triangle and could reach this point within the next 17 hours. It has tested this line numerous times in the past, and this time could be no different from the past, ending in a rebound instead of a breakout. If the breakout doesn’t happen, we could see a retracement back down to current levels.

Target: 1.2456 Entry: 1.2411 Stop: 1.2373

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