GBP/USD’s daily chart shows a falling wedge breakout. The breakout is backed by bullish readings on key indicators. GBP/USD jumped 1.85% on Thursday, the biggest single-day gain since March 19. The pair is currently trading largely unchanged on the day at 1.2436, having hit a 15-day high of 1.2469 in the overnight trade. The daily chart is reporting a falling wedge breakout – a bullish reversal pattern, which indicates the pullback from Sept. 20’s high of 1.2582 has ended and the rally from Sept. 3’slow of 1.1958 has resumed. The pair, therefore, could challenge the resistance of the trendline falling from March highs in the short-term. As of writing, the trendline resistance is located at 1.2550. The 14-day relative strength index has moved back above 50 and the MACD histogram has crossed above the zero line, supporting the bullish case. Daily chart Trend: Bullish Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Forex News Today: Daily Trading News share Read Next USD/JPY: Eyes 108.00 figure, retaining positive stance pertaining to bullish trade-talk headlines FX Street 4 years GBP/USD's daily chart shows a falling wedge breakout. The breakout is backed by bullish readings on key indicators. GBP/USD jumped 1.85% on Thursday, the biggest single-day gain since March 19. The pair is currently trading largely unchanged on the day at 1.2436, having hit a 15-day high of 1.2469 in the overnight trade. The daily chart is reporting a falling wedge breakout - a bullish reversal pattern, which indicates the pullback from Sept. 20's high of 1.2582 has ended and the rally from Sept. 3'slow of 1.1958 has resumed. The pair, therefore, could challenge the resistance of the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
