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GBP/USD

Published 10/20/2011, 05:30 PM
Updated 07/09/2023, 06:31 AM

What do you get when you combine a resistance level and a slope of higher lows? You guessed it - an ascending triangle! The way I see it, there are several ways that you can play this setup on GBP/USD. You can either play a bounce off resistance at 1.5850, go long on a rebound off the rising trend line, or wait patiently for the triangle to break. But no matter which route you decide to take, be sure to wait for confirmation from candlesticks!


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