GBP/USD has broken through a support line of a Rising Wedge and suggests a possible movement to 1.2110 within the next 5 hours. It has tested this line in the past, so one should probably wait for a confirmation of this breakout before taking action. If the breakout doesn’t confirm, we could see a retracement back to lines seen in the last 2 days.
Related Posts
It’s time to make a decision on GBP/USD – its recent breach of 1.2472 could be a sign of a new trend to follow.
GBP/USD is once again retesting a key horizontal resistance level at 1.2472. It has tested this level 3…
EUR/USD – approaching a price line that has been previously tested numerous times in the past
The price of EUR/USD in heading back to the support area. It is possible that it will struggle…
We expect a $100 movement on NZDUSD within the next 2 hours.
Based on the last 12 GDP Growth Rate QoQ Adv events in United States, we may expect NZDUSD…