on a pound dollar we see very interesting trading setup. on the hourly timeframe, there is a clear rising wedge pattern and we can contemplate a false bullish breakout that recently occurred.
if we look left we will notice that 1.291 is a mystery level that the market has respected many times before.
and again, this level was touched a couple of hours ago and we see a clear rejection.
now I will be looking for a bearish breakout of this rising wedge. I need to see a clear bearish violation of 1.286 level to sell the market.
your initial target is 1.274 and your second target is a bit above 1.25