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Pound/Dollar: Triangle Appeared


The double bottom pattern didn’t come off. The pound/dollar fell to 1.5065 but a decent looking triangle has appeared; only this figure is a continuation of the trend. The pound/dollar should return to its lower limit of 1.507 and then restore itself to 1.5114. It’s a shortened day in the US, so I haven’t considered any break. The UK’s GDP second assessment for Q3 will be published later, so I see no point looking at the news.

Hourly Graph


The bears have managed to neutralise the bull signal. The risks of a depart below 1.5065 are high.

Daily Graph


For the moment, everything is pointing downwards for the pound.

Weekly Graph

01 December, 08:05 (GMT+3)
Euro/Dollar: Expected Test of 1.0530


Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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