GBP/USD Forecast: expect a possible rally to the upper side

a-4Wave Analysis:

The cable is currently trading around 1.3057, this pair is currently trading within a contracting wedge formation and as long as the price remains above the zone 1.30095-1.30327, we expect a possible rally to the upperside, a clear breakout below 1.30095 may culminate into a possible bearish price rally towards 1.27925. And on the flipside, as long as the price remains above 1.30327, we expect a possible momentum to the upperside towards the monthly/ weekly resistance level 1.33064.

Trade Recommendations:

We’re upwards as long as the price remains above 1.30095

Wait

Origin: FreshForex

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