GBP/USD is moving towards the resistance line of a Rising Wedge which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If GBP/USD continues in its current trajectory, we can expect it to reach 1.2503 within the next 7 hours.
Important resistance line being approached by GBP/USD. This price has been tested numerous time in the last 2 days
