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GBPUSD: Wait for Triangle breakout | February 21, 2017



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Gbpusd has formed a triangle on H4 time frame. This pair is respecting 200 EMA on h4 time frame. We saw more than three times pull back from 200 moving average on h4 time frame. So now it is acting as support for this pair. There is lower band of triangle staying along with the 200 EMA. Above this support, we can stay on bullish mode.
If we can find any breakout of this triangle, then we can expect more fall on this pair. So below the 200 EMA, we need to stay on sell mode.
Our recommendation is to stay on safe mode within this range zone. After breakout, we should take entry according to the breakout direcction


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