GBP/USD continues to rise after the recent breakout of the daily Triangle chart pattern identified by Autochartist – as you can see from the following trade opportunity alert for this currency pair. After breaking this Triangle, the pair rose sharply up to the resistance level 1.5588 (point B, the last reversal point of the broken trendline, which was given earlier in this trade opportunity alert) – where it consolidated shortly before resuming the upward movement. At the time of the writing the pair has managed to break above the resistance level 1.5588 and is set to rise further toward the target level 1.6146 in the next 7 days.
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As you can see from the following Volatility Analysis chart for GBP/USD, most of the daily Expected Price Range calculated by Autochartist (from 1.5548 to 1.5705) stands above the aforementioned resistance level 1.5588 – which adds to the probability that the pair will continue to rise toward the target level 1.6146 tomorrow.