GBP/USD analysis: Follows rising wedge pattern
|GBP/USD
Yesterday, the GBP/USD exchange rate bounced off the upper line of the rising wedge pattern.
From a theoretical point of view, it is likely that the currency pair could reverse north from the lower pattern line and trade upwards within the following trading session.
Meanwhile, note that the pair is pressured by the 55– and 100-hour SMAs near 1.3690. If the given resistance holds, a breakout south could occur, and the rate could decline to 1.3600.
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