HelenP. I British Pound can continue to rise to resistance level
Hi folks today I'm prepared for you British Pound analytics. A not long time ago price declined to the 0.8520 support level, which coincided with the support zone, and at once rebounded and started to move up. But later, GBP turned around and made an impulse down to the trend line, thereby breaking the 0.8520 level. After this movement, the price entered to wedge, where it rebounded from the trend line and made a strong impulse up to the resistance zone, which coincided with the resistance level, breaking the support level one more time. Then GBP made little correction from the resistance zone and later started to rise to the resistance line of the wedge. Soon, the price broke the 0.8565 level and even rose higher than the resistance line of the wedge, but in a short time later it turned around and fell back, making a fake breakout. GBP some time traded near the resistance level and then fell to the trend line, after which it turned around and soon rose back to the resistance level. But recently price rebounded and at the moment, GBP trades below in wedge. For my mind, I expect that British Pound will rise to a resistance level and try to break it. If the price does this, GBP can make a retest and then continue to move up. So, that's why I set two targets, the first target at the 0.8565 resistance level, and the second - at the 0.8580 level, which coincided with the resistance line of the wedge. If you like my analytics you may support me with your like/comment ❤️
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