Fri, 07 Nov 2014 08:37:22 GMT
GBP/USD 1H Chart: Falling Wedge
Through last two months the GBP/USD cross has traded in the boundaries from 1.59 to 1.63. Nonetheless, now the pair seems to be going for lower levels, as a falling wedge pattern has formed.
The pattern's support line at 1.5823 is being challenged at the moment; however, it seems rather strong together with the monthly S1 at 1.5833. At the same