GBPUSD: Potential Short

FX:GBPUSD   British Pound / U.S. Dollar

hey traders,

rising wedge  formation on  GBPUSD  .
though the pair has broken below the support line of the  wedge  ,
I am paying close attention to 1.296 support of a narrow horizontal trading range.

I will sell the pair in case of  bearish  breakout of the range.
Target levels will be:
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I concur with your analysis, but to be fair... do you not think this pair is being news driven rather than on technicals? With the pronouncement of any news, technicals tend to go into the long grass. Only until the pair stabilises again... can we depend on the technicals? or am a talking 'poop' so to speak?
+1 Reply
Yes! Nice analyse
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