GBPUSD coiling for a bigger move?

Updated

GBPUSD seems to be coiling for an expansion. A break above or below and a close there could give us some sense of direction. Major support and resistance areas are shown as the green and red rectangles respectively

Note

Pair still inside the two boundaries. A break and cole above the downward sloping trend line could see us sustaining a move upward towards the 1.28 area. A break below will run straight into an area of consolidation where PA should slow down

Trade active

Seems to be breaking out to the upside. Looking for a move into the red rectangle

Note

Closing in to major resistance at 1.28

Note

All eyes on the Fed rate decision tonight

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