The GBPUSD is performing like a star with great formations all round.
We have just completed a Cup and Handle formation, watching it extend up to the top of its channel.
It should be noted the channel is slightly wedge shaped and ascending.
With it reaching the top of its channel, it's looking like we will have a short term pull back to the 1.35 (RSI Clearly overbought currently) and then there is no resistance until 1.47!!!
That being said - there is clearly some big movements ahead, but wait for clear confirmation of direction before entering any trades.
We have just completed a Cup and Handle formation, watching it extend up to the top of its channel.
It should be noted the channel is slightly wedge shaped and ascending.
With it reaching the top of its channel, it's looking like we will have a short term pull back to the 1.35 (RSI Clearly overbought currently) and then there is no resistance until 1.47!!!
That being said - there is clearly some big movements ahead, but wait for clear confirmation of direction before entering any trades.