GbpUsd- Bullish above 1.2400

Since the recent high near 1.27, GbpUsd has dropped almost 400 pips.
However, the drop is corrective in nature and is drawing a falling wedge pattern on smaller time frames.
Confirmation for reversal comes with a daily close back above 1.24

Kommentera:

Gbpusd is trading above both the falling trend line and the horizontal level

Kommentera:

The bullish scenario looking better and better.
Yesterday the price dropped under support, but buyers quickly took control and the daily candle is a long tailed Pin Bar from that support
We can expect more gains even above 1.2550 target