GBPUSD LONG · FOREX

This is a long-term trade. On the weekly chart, GBPUSD is forming a symmetrical triangle with a series of lower highs and higher lows in the zone around 1.3300–1.3500, which suggests volatility compression and a potential breakout. Key resistance sits at the multi-year level around 1.3500–1.3600, while structural support comes from the 1.3200–1.3250 area, which coincides with the lower trendline of the triangle. The green projection arrow on the chart points to an expected attempt to test the upper edge of the triangle before the direction is finally resolved. The first trade is a bounce off the lower line of the symmetrical triangle and an exit near the top. In case of a breakout, I would re-enter and wait for TP 2.