GBPUSD long setup

26 thg 12, 2016

• Price currently in a descending wedge with signs of exhaustion - MACD divergence formation
  
• If price breaks out to the upside we could see it heading towards the highlighted resistance zone
  
• Resistance zone is in confluence with the 61.8% fib level plus downward trendline which could be potentially re-tested
  
• Will be closely monitoring the pair for any potential break to the upside for a short term buy opportunity
  

GBPUSD