For all that the GBP/ USD has had a nice bull run for the last few months, there is a yearly resistance that price is currently in the area of which people might want to be aware of.
On the other hand, price has broken above the old resistance (dotted blue line) which is bullish in nature, but again, people should be consious that the dotted blue line coupled with the yearly downwards trend line does form a bearish wedge. Therefore there is potential (from a technical view) that price could shift to a less bullish tone.
Hopefully the above makes sense :)
On the other hand, price has broken above the old resistance (dotted blue line) which is bullish in nature, but again, people should be consious that the dotted blue line coupled with the yearly downwards trend line does form a bearish wedge. Therefore there is potential (from a technical view) that price could shift to a less bullish tone.
Hopefully the above makes sense :)