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GBPUSD Wedge - Breakout Expectation Bull or Bear?

British Pound / U.S. Dollar (FX:GBPUSD)  
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FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Technical Indicators Forex forexpatterns forexideas forexlearning forexeducation forexsignals forexalerts GBPUSD
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trendanalysis harmonicpatterns indicator forex forexpatterns forexideas forexlearning forexeducation forexsignals forexalerts gbpusd
GBPUSD has been consolidating since the start of August. We now see a wedge pattern. Expecting a breakout above or below this wedge.

If above, Price can rise to 1.3300 handle.
If below, expect price to fall to 1. 2900 handle.

Short term trades to scalp this wedge range is fine but use low risk and short stop losses. Otherwise wait for confirmation of direction break.


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Charles V
www.cvfxmanagement.com
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