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GBP/USD Breaks Rising Wedge Support – Targets 1.2565 & 1.2530
GBP/USD has been in a downtrend for some time. Recently, it formed a rising wedge pattern, which is a bearish continuation signal. In this pattern, the price had been making Higher High and Higher Low indicating a tightening range.
Now, the pair has already broken the support of the wedge, confirming the bearish breakout. This suggests that the downtrend is likely to continue as sellers take control.
Current Price: 1.2620
Target 1: 1.2565
Target 2: 1.2530
If the price moves as expected, we could see it reaching these targets soon.
Now, the pair has already broken the support of the wedge, confirming the bearish breakout. This suggests that the downtrend is likely to continue as sellers take control.
Current Price: 1.2620
Target 1: 1.2565
Target 2: 1.2530
If the price moves as expected, we could see it reaching these targets soon.
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