GBPUSD H1 Time frame shows clearly Rising wedge

20 paź 2019

The rising wedge pattern is characterized by a chart pattern which forms when the market makes higher highs and higher lows with a contracting range. When this pattern is found in an uptrend, it is considered a reversal pattern, as the contraction of the range indicates that the uptrend is losing strength. When this pattern is found in a downtrend, it is considered a bearish pattern, as the market range becomes narrower into the correction, indicating that the correction is losing strength and that the resumption of the downtrend is in the making.
GBPUSD Closed last week @1.29739
We all expecting to see a bearish gap after the recent statements about Brexit
In a technical way, we may expect to pull back, if GBPUSD breaks the lower boundary line? It will keep fallen until 50.0 FIB Level.
Otherwise, there will be another scenario ill post it later
Be careful if you chose to trade in GBP’s Pairs.
And I advise all the traders to keep away from GBP's pairs.



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