GBP/USD looking for a new high to retest the upper side of a wedge
|Pound keeps moving higher as intraday sentiment turned against the US currency as US stocks indexes keep trading at ATH. Technically speaking, cable made only a three wave drop within a corrective channel that found a support at former wave four, near 1.3622. Intraday rise is sharp, looks like an impulse that is now also trying to break through the upper trendline resistance so it appears that bulls are ready to retest 1.3744 highs, the upper side of a 4h wedge.
GBP/USD 4h and 1h
Check more of our charts in members-research and save 30% on New Year Deal. Visit EW-Forecast for details!
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.