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GBP Facing a Bearish Wedge Break Out

Discussion in 'Technical Analysis' started by FXStreet_Team, Feb 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The past few days have seen the Cable grappling with both sliding UK economic data as well as a resurgent US Dollar. Subsequently, the pair is now challenging the bottom of the wedge pattern that has been constraining much of its moves. However, the question remains, will the pair move to breakout of the wedge and through the key 1.44 handle or falter and return to status quo. The Cable’s technical indicators have largely been a mixed bag over the past week as price action remained constrained

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