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Is the GBPUSD Consolidation About to Breakdown?

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 8, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    It has been a relatively rocky ride for the venerable Cable over the past few weeks as the talk of a BREXIT continues to impact the currency. However, despite some of the recent selling, the pair is firmly within the grips of a consolidation pattern that could see some dramatic moves in the week ahead. Undertaking a technical analysis of the Cable’s 4-Hour chart yields some potentially interesting clues for the week ahead. It is readily apparent that the currency pair has largely been trapped

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