kier.hetherington
Long

GBPUSD Long - Descending Wedge

FX:GBPUSD   British Pound / U.S. Dollar
Since approximately 24th February, GBPUSD             has been mirroring AUDUSD             in a descending wedge . AUDUSD             has recently broken the resistance of this wedge and with a retest, could show strong signs of a bullish move... could GBPUSD             be doing the same? If the 1.386 level (see red circle) holds, where short-term support may exist, expect a move higher and break of the wedge . If this short-term TL does not hold, expect a further move to the downside as happened on two previous occasions (5th & 27th February).
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