AutoChartist Rapport Forex (Eur) 15.10.2018
The GBP/USD pair has formed a symmetrical triangle on a 30 minute time frame as predicted. These patterns usually break in the direction of the trend and as this pattern has already broken to the upside, this could easily push the price near the yellow rectangle area shown on the chart. Moreover, the GBP/USD is also trading below the 50 day (shown in green) and 100 day (shown in yellow) moving averages which confirm that the bulls in full control.
The RSI is trading in line with the price action which confirms that the bias could be still to the upside. However, it has also entered in an over bought zone so a caution should also be considered
Important Zones
Resistance Zone
1.5880-1.5834 Major
1.5749- 1.5717 Minor
Support Zone
1.5441-1.5417 Minor
1.5241-1.5205 Major
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