Kumowizard
Long

GBPUSD - Reverse and/or higher consolidation?

FX:GBPUSD   BRITISH POUND / U.S. DOLLAR
64 0 0
Daily: Still bearish trending, but a bullish wedge may be forming. MACD has an obvious positive divergence, and about to give another buy signal too. Slow Stoch turns bullish . Daily Key support is ard             1,6010 at the bearish trendline and Kijun Sen.

As UK numbers started to show same problem of wage growth as in US, sooner or later investors will realise there can be some inflationary pressure soon in UK economy as well. The two economies had same kind of monetary policy , now they will have same kind of problem with exit. The question is who makes the first step. Anyway, I think this pair is going to be the first, where the USD bull can fade.

4 Hrs: Price is flirting with Key support (horizontal and 100 WMA ) at 1,5955, trades above Kijun Sen but still below Kumo. Future Kumo overshades Price, Chikou Span hits candles. DMI turned bullish ,we may see a weak bullish Tenkan/Kijun cross soon. A break above 1,5960 will likley bring further buying interest, and there's a good chance the pair will move back to the previous range, maybe even above 1,6100.
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