GBPUSD 1.5334: 5-day falling wedge breakout projects higher
GBPUSD broke through a 5-day falling wedge (as shown on the 60 minute chart), reinforcing the strong support at 1.5170 (Jun 1, 2015 low) near the 50% retracement level (1.4565/1.5184 rise). Further gains through 1.5374 (Jun 3, 2015 high) would signal further bullish momentum near term towards 1.5436 (May 27, 2015 high) ahead of 1.5507 (May 25, 2015 high) near the 200 day moving average.
Outlook:
Short term: bullish
Long term: neutral
Outlook:
Short term: bullish
Long term: neutral
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.