GPBUSD

GBPUSD Potential To Advance Pound has entered inside the wedge




GBPUSD Potential To Advance

GBPUSD Potential To Advance

GBP-USD

At 09:40 GMT, the pair is trading at 1.3126, with the Pound trading 0.24% lower against US Dollar from the New York close. On the data front, UK’s public sector net borrowing posted a surplus in July. The pair witnessed a high of 1.3184 and a low of 1.3107 during the session. Yesterday, the Pound traded marginally higher against the US Dollar in the New York session and ended at 1.3158. Immediate downside, the first support level is seen at 1.3094, while on the upside, the first resistance level is situated at 1.3171.

The big break for GBP/USD is found at 1.3456 and current price is built upon a base at current 1.2618. The base remains in the same position all week without significant movement. This says 1.3456 and all significant inflection points in highlighted currency pairs will not break easily.

  GBPUSD Pound has entered inside the wedge and has the potential to move towards the upper trendline or 1.3347, about 200 pips from the current level. On the flip side it can also range between 1.3060 to 1.2948, todays weekly close will set the tone for the coming weeks trend

Price on the hourly chart is trading within the wedge and is currently supported by the lower channel line, a break below this channel will push the pair towards 1.3086. On the contrary, if price rebounds from the current level then it can close at 1.3152 for the week.

USDCAD – Is it a Bearish Wedge?

USDCAD – Is it a Bearish Wedge?



USDCAD – Is it a Bearish Wedge?

USDCAD – Is it a Bearish Wedge?

recent updates have stated that “USDCAD upside acceleration is feasible (consolidation could destroy both way), specially thinking about the response from 1.2830s. movements off of this rate produced 2 trending movements in 2015.” A fine bias is warranted at the same time as above 1.2834 but be conscious that trade because the can also low could compose a wedge that gives way to the following down leg within a bearish cycle from the January high.