GBP/USD analysis: Could trade upwards
|GBP/USD
The GBP/USD exchange rate has revealed a rising wedge pattern.
From a theoretical perspective, it is likely that the currency pair could trade upwards within the predetermined pattern in the short term. In this case the pair could reach the resistance level at 1.3700.
In the meantime, note that the exchange rate could remain under pressure of the 100-hour moving average near 1.3625. Thus, the rate could re-test the lower pattern line circa 1.3540.
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