TradeLoft

GBPUSD Falling Wedge-UPSIDE Favoured

Long
FX:GBPUSD   British Pound / U.S. Dollar
A Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. That is what GU is displaying right now. Why don't we wait for that break out and the take a position? Sounds cool, right? ;)
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