GBPUSD - Breakout of Wedge
Hi Traders!
As you can see, the market is moving in an opening wedge.
The market even broke out the upper trendline.
But it failed the retest, so it bounced back into the wedge.
Then it made some lower lows, so another trendline.
The next resistance area is at 1.30500.
We expect the market to break out with the target at 1.27200.
We recommend to sell the breakout after a confirmation.
Thanks and good luck :)!
As you can see, the market is moving in an opening wedge.
The market even broke out the upper trendline.
But it failed the retest, so it bounced back into the wedge.
Then it made some lower lows, so another trendline.
The next resistance area is at 1.30500.
We expect the market to break out with the target at 1.27200.
We recommend to sell the breakout after a confirmation.
Thanks and good luck :)!
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