Possible +80 Pip GBPUSD Range Breakout!

GBPUSD has been in a +80 pips range for the past 4 days or so, and is likely to breakout of this range anytime soon. The MACD and the RSI are favoring a bullish breakout since they are both showing clear signs of positive divergence. On a much bigger scale, GBPUSD formed a falling wedge from the July highs at 1.34768. A bullish breakout of the range will result in a bullish breakout of the falling wedge (likely to happen) but if we have a bearish breakout of the range - the falling wedge's diagonal support could be this pair's next support level.

Bullish breakout means the possibility of more more pips to bag.

What do YOU think?
ANYTHING CAN HAPPEN!

Comment:

Forgot to mention FOMC! Anything can happen!

Trade closed: target reached:

:) Ca$hed in