We are seeing a transformation of a trend channel into a gradual wedge
. Higher highs and higher lows are seen in this pair. With bad US DATA, we can see a spinning top
on the the last higher low candlestick
. This signifies a fundamental and technical HUGE BUY on the Cable. This is a follow up on my previous idea. I do expect prices to reach 1.59 in the next week.
Comments and advice are greatly appreciated. This is purely my opinion on GBPUSD