GBP/USD potential Short

FX:GBPUSD   British Pound / U.S. Dollar
Current situation: the pair is currently trading the range between monthly support 1.27108 / resistance 1.19620 levels and has begun concilidating in a wedge .Depending on how price behaves towards the rising support, a break and re-test should see price move bearishly with the monthly support at 1.19620 as its target. An area to watch for potential support is the Weekly support zone at 1.23300. NOTE: No entries will be made until markets re-open on Sunday night.


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