GBP/AUD: 1-hour
Check out this rising wedge forex pattern forming on GBP/AUD’s 1-hour time frame! Could this be a sign that buyers are losing strength? Stochastic is still climbing, which indicates that there might be a bit of buying pressure left to push the pair to the top of the wedge near the 1.8700 major psychological level. If this holds as resistance, the pair could make another test of the wedge support or perhaps go for a breakdown. The chart formation is nearly 400 pips high, which suggests that the potential selloff could be of the same amount.
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