“¢ Barring an intraday spike on Monday, the pair has been struggling to make it through 200-hour SMA and remained confined in a broader trading range around the 1.3200 handle. “¢ The range-bound price action over the past 24-hours or so constituted to the formation of a rectangle on the 1-hourly chart, indicating a brief pause in the trend – bullish in this case. “¢ Usually considered as a continuation pattern, a rectangle can also mark trend significant tops and thus, warrant caution amid neutral technical indicators on hourly/daily charts. “¢ Hence, it would be prudent to wait for a sustained break through the mentioned trading range before traders start positioning for the pair’s next leg of a directional move. GBP/USD 1-hourly chart FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Sources: China said to plan more US pork imports amid trade talks – Bloomberg FX Street 4 years "¢ Barring an intraday spike on Monday, the pair has been struggling to make it through 200-hour SMA and remained confined in a broader trading range around the 1.3200 handle. "¢ The range-bound price action over the past 24-hours or so constituted to the formation of a rectangle on the 1-hourly chart, indicating a brief pause in the trend - bullish in this case. "¢ Usually considered as a continuation pattern, a rectangle can also mark trend significant tops and thus, warrant caution amid neutral technical indicators on hourly/daily charts. "¢ Hence,… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
