GBP/USD: "Rising Wedge" going to be broken

GBP/USD: "Rising Wedge" going to be broken

GBP/USD: "Rising Wedge" going to be broken

Bulls faced resistance at 1.2995, so there's a "V-Top" pattern. Under this circumstances, the market is likely going to achieve the 34 Moving Average in the short term. If a pullback from this line arrives afterwards, there'll be an option to have another upward price movement towards resistance at 1.2945 - 1.2964.

GBP/USD: "Rising Wedge" going to be broken

There's a "V-Top" pattern, so the price is consolidating along the Moving Averages. Therefore, bulls are likely going to test the closest resistance at 1.2952 - 1.2964, which could be a departure point for another decline. So, we should keep an eye on support at 1.2913 - 1.2901 as an intraday bearish target.

gbp

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