GBP/USD is approaching a resistance line of a Rising Wedge. It has touched this line numerous times in the last 43 days.

GBP/USD - getting close to resistance of a Rising Wedge
GBP/USD is trapped in a Rising Wedge formation, implying that a breakout is Imminent. This is a great trade-setup for both trend and swing traders. It is now approaching a support line that has been tested in the past. Divergence opportunists may be very optimistic about a possible breakout and this may be the start of a new trend. It may also be that this convergence factor may result in the ideal setup for swing traders that are on the lookout for a possible bounce-back. Whatever happens, an initial move towards 1.2868 is expected in the short term.

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