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DenisRisticFX

GBPUSD: Tight Ranges Lead to Large Expansions

Short
British Pound / U.S. Dollar (FOREXCOM:GBPUSD)  
DenisRisticFX Updated   
FOREXCOM:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns
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trendanalysis chartpattern
GBPUSD is trading in a tight range. I expect range trading to continue until Wed's heavy news day where I think the pair could run above the recent highs for a stop run before turning lower.
Comment:
Just like the USDCAD, Cable is being held in consolidation. Looks bearish.
Comment:
Short target 1 low at 1.3360 reached. Will price reach for 1.3161 level?
Comment:
GBPUSD continues to look heavy with downside objective aimed for 1.3161 level.
Trade closed: target reached:
Target 3 reached on May 7. Trade is complete.
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