empty
 
 
29.08.2023 09:07 AM
GBP/USD analysis for August 29, 2023 - Breakout of the triangle to the upside

Technical analysis:

This image is no longer relevant

GBP/USD has been trading upside in the background and I found breakout of the triangle pattern, which is good sign for the further upside movement.

Due to the breakout of the triangle pattern and the momentum increase, I see potential for the further growth towards upside references.

Upside objectives are set at the price of 1.2650 and 1.2715

MACD oscillator is showing upside momentum with no signs for the reversal....

Intraday support is set at the price of 1.2600

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback