Analysis On GBP/USD
Okay what's up guys. Hope everyone had a good holiday and you guys are prepared for this trading week. I wanted to drop-in and give a little analysis on the Great British pound u.s. dollar. So starting on the 4 hour time frame. I can see that price is starting to form a running Channel with a little bit of an ascending form to it. Within the channel itself price made this descending wedge with price broke out of the first of the month. Which was also the beginning of a new quarter. With what I'm seeing, I'm expecting the price to continue to the upside and try to read test the highs of the beginning of the falling wedge. If we look at the current price today you can see the impulse of the breakout of the wedge and price is also for me a sort of a descending flag which would indicate maybe a Breakout to the upside or continuation to the outside. I will be watching this pair for the next couple of hours to see how price reacts let me know what you guys think.
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