Short

HelenP. I GBPUSD may break support of wedge and to decline

Hi folks today I'm prepared for you BRITISH POUND analytics. At the end of April, the British Pound re-tested the support zone 1.2310-1.2280 and continued the uptrend. The price made a deep correction, continued to rise and reached resistance at level 1.2525. For a long time, the British Pound traded below resistance, after which it continued to rise and broke through the level of 1.2525. For some time, an ascending wedge was created, inside which the price is now traded. The British Pound rose to a resistance level of 1.2665, which corresponds to the resistance of the wedge, and after a re-test start to decline. Recently, the price tested support of wedge, bounce off, and made an upward correction. It seems to me that the price has started a local downtrend and may continue to fall and leave the wedge. The price is currently traded over a support of wedge and may continue to decline and break through it. Therefore, goals for the British Pound will be set at levels of 1.2570 and 1.2525. If you like my analytics you may support me with your like/comment ❤️

FirstNameHelen

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