UR/GBP’s sell-off from the highs near 0.91 seen in January has taken the shape of a falling wedge – a bullish reversal pattern on the daily chart.

A close above the upper edge of the falling wedge, currently at 0.8645, would confirm a bearish-to-bullish trend change and open the doors to 0.8840 (Feb. 14 high). Rejection at the wedge hurdle, however, could end triggering a sell-off toward levels below 0.83.

As of writing, the pair is trading at 0.8545.

Trend: Neutral

R30.8644
R20.8603
R10.857
PP0.853
S10.8496S2
0.8456S3
0.8423



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