has been in a +80 pips range for the past 4 days or so, and is likely to breakout of this range anytime soon. The MACD
and the RSI
are favoring a bullish
breakout since they are both showing clear signs of positive divergence. On a much bigger scale, GBPUSD
formed a falling wedge
from the July highs at 1.34768. A bullish
breakout of the range will result in a bullish
breakout of the falling wedge
(likely to happen) but if we have a bearish
breakout of the range - the falling wedge's diagonal support could be this pair's next support level
breakout means the possibility of more more pips to bag.
What do YOU think?
ANYTHING CAN HAPPEN!