Looks like a long setup

FX:GBPUSD   British Pound / U.S. Dollar
Possible wedge with resistance at 1.68. if broken, based on recent moves could reach 1.7, also a psychological barrier. It usually comes back down and tests the resistance levels, hence the retracement. This coincides with a rough channel pattern.
Then the measured move from the wedge is 1.73 which could be a possibility if it breaks 1.7 and we have lots of hype around the ~ 5 year high.

The other possibility I have shown in red is the false break out and continuation of the wedge pattern, setting up for a potential break out further down the line.
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