• GBPUSD Challenges Wedge Resistance at 1.2800


    GBPUSD has been trending lower since April 2018. At the January 3rd flash crash low, the pair was down nearly 2,000 pips from the April 2018 high. Theres no doubting the fact that sellers have been in control. However, there is a pattern that GBPUSD bears shouldnt ignore. Similar to EURUSD, the pound has carved what appears to be a falling wedge pattern. If the pair can close above resistance, GBPUSD could see further gains. At the moment, that trend line comes in near 1.2800. A daily close above it would expose 1.2880 followed by the 1.3050/70 resistance area. Alternatively, bearish price action from the 1.2800 area ... (full story)