GBPUSD In A Wedge

The GBPUSD has been steadily making higher lower and higher highs over the last few weeks.  For this trend to continue the pair will have to break above resistance at 1.5675.  This level has contained all attempts higher so far this week.  A break above the 1.5675 level could open the pair up to a test of the 50 fib from the May lows at 1.5734.  Support can be found at the ascending trend line created from the higher lows around 1.5520.

Sup    1.5520

Res    1.5675

Keane Insights:  The pair is trying to push higher waiting for a break of resistance at 1.5675 or a push back towards support.

 

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