GBPUSD In a Wedge

13 Jun
2012

The GBPUSD is a narrowing wedge.  A break to the top or bottom is in the near future.  The top of the wedge at 1.56 and the bottom is the trend line from the beginning of the month at around 1.5490.  A break o the bottom and we could see a move towards 1.5410.  A push through the top and the next stop could be the .382 fib from the may lows at 1.5661.

Sup    1.5490                  1.5410

Res    1.56                        1.5660