GBPUSD has been moving up in a rising wedge channel for a significant amount of time now and has reached a level of strong resistance. A rising wedge in an upward trend indicates a potential reversal pattern. Currently, GBPUSD is at the bottom of that channel and unable to reach a higher high. This makes me inclined to think that a downward fall is coming soon. A short position here is the best idea in this pair. If this is not the case, then I will be looking to short around the 1.35 area will be looked at.
Please give a thumbs up if you agree with the idea and if there are any questions, feel free to comment down below.
Please give a thumbs up if you agree with the idea and if there are any questions, feel free to comment down below.
Trade attivo:
As I said, the price just dropped and giving a pullback to continue the downtrend again.
Commento:
Spot on, just like drawings.