GBPUSD: Descending Triangle

GBPUSD, H2

On the H2, GBPUSD has formed a descending triangle pattern in a short-term bearish trend. Despite the bearish sentiment, Momentum moved above 100.0, and +DI crossed above -DI on the ADX indicator.

• A break of the upper trendline above 1.3080 will open the way to 1.3120 and further to 1.3170;

• A break of the lower trendline below 1.3060 will continue down to 1.3010;