GBP/USD -18/12/2020-
• Rising wedge on daily chart
• A wedge is usually a reversal pattern
• Rising wedge signals bearish reversal
• Lower prices expected
• A break of the wedge's lower bound increases chance of reversal
• Target of a successful breakout is the weekly gap in the mid 1.3200's
• A wedge is usually a reversal pattern
• Rising wedge signals bearish reversal
• Lower prices expected
• A break of the wedge's lower bound increases chance of reversal
• Target of a successful breakout is the weekly gap in the mid 1.3200's
Ramzi Abou Abdallah, CFTe, CMT
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.