Dukascopy Bank Team
Dukascopy Bank SA
GBP/USD
The GBP/USD exchange rate continues to follow the rising wedge pattern.
From a theoretical perspective, it is likely that the currency pair could re-test the lower pattern line circa 1.3600. If the given pattern holds, a reversal north could occur.
Meanwhile, note that the exchange rate could gain support from the 200-hour SMA and the weekly PP near 1.3650. Thus, the rate could re-test the upper pattern line. If the predetermined pattern holds, a breakout north could occur.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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