Alpari - Analytics


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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

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