Aurum Markets Blog Technical Analysis GBPUSD approaching support of a Channel Up

GBPUSD approaching support of a Channel Up

GBPUSD approaching support of a Channel Up post thumbnail image

GBPUSD was identified at around 1.26075 having recently rebounded of the resistance on the 1 hour data interval. Ultimately, the price action of the stock has formed a Channel Up pattern. This squeeze may increases the chances of a strong breakout. The projected movement will potentially take the price to around the 1.2586 level.

Target: 1.2586 Entry: 1.2608 Stop: 1.2641

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