Pound showing strength, Clear Falling Wedge Pattern.
Very obvious falling wedge pattern on GBP/USD
The falling wedge has 5 touches between the pattern for validation.
On the 5th touch we can see a breakout, a sucessful bullish retest can confirm the breakout, whereas if the price breaks out and fails and is rejcted off the previous resistance we can see a pattern failure setup.
The Monthly RSI and Stochastic are near the 50 level, if we can cross upward and bounce if it, will be positive for this idea.
The falling wedge has 5 touches between the pattern for validation.
On the 5th touch we can see a breakout, a sucessful bullish retest can confirm the breakout, whereas if the price breaks out and fails and is rejcted off the previous resistance we can see a pattern failure setup.
The Monthly RSI and Stochastic are near the 50 level, if we can cross upward and bounce if it, will be positive for this idea.
