GBPUSD: Is it really rising?

GBPUSD, H4

On the H4, GBPUSD has formed an ascending triangle pattern. The price reached the upper boundary after bouncing off the lower trendline and MA50. The Gator indicates an increasing bullish sentiment.

We consider buying GBPUSD only on a rise above 1.3580 with targets to 1.3670 and 1.3740.

Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Egor Schmidt

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