GBP/USD: "Rising Wedge" pattern

GBP/USD: "Rising Wedge" pattern

3-8-2017-GBP-H4.png

The price is consolidating under resistance at 1.3234, but we've got a "Double Top". If this pattern confirms, bears are likely going to test the nearest support at 1.3184. If a pullback from this level happens, there'll be an opportunity to have an upward price movement towards the next resistance at 1.3277.

3-8-2017-GBP-H1.png

We've got a "Rising Wedge" pattern, so the price is likely going to test the closest resistance at 1.3243 - 1.3250 during the day. However, if we see a pullback from this area, bulls will have a green light to achieve another support at 1.3207 - 1.3184.

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