GBP/USD - Breakout.
It is difficult currency to predict at the moment. The BoE are meeting on Thursday, where they are expected to lower interest rates; this could see the GBP slump towards 1.25, as per all the economists are forecasting.
Anyways, at the moment you can classify the pair to be in a rectangle and a wedge shape; if the wedge breaks bullish, then the resistance will be 1.301 (the top of the rectangle), likewise if the wedge breaks bearish support will be at the 1.2891 level.
Anyways, at the moment you can classify the pair to be in a rectangle and a wedge shape; if the wedge breaks bullish, then the resistance will be 1.301 (the top of the rectangle), likewise if the wedge breaks bearish support will be at the 1.2891 level.
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