- 15th March 2019
- Posted by: muffeeda Ibrahim
- Category: FOREX LATEST NEWS DAILY
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.