GBP/USD: "Rising Wedge"

GBP/USD: "Rising Wedge"

Bulls found resistance at 1.2995, which pushed the price a little bit lower. Also, we've got a "Rising Wedge", so the pair is likely going to test the nearest resistance at 1.3023. If a pullback from this level happens, there'll be an opportunity to have a decline towards support at 1.2945 - 1.2913.

There's a "V-Bottom" pattern, which has been formed on the 89 Moving Average. At the same time, there's strong resistance by the last "Double Top", so the price is likely going to test the nearest support at 1.2964 - 1.2953. If a pullback from these levels happens, there'll be an option to have an upward price movement towards the closest resistance at 1.2995 - 1.3023.



Latest news

GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.


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