GBPUSD TICK TICK TICK…Something has to give

The GBPUSD has  bounced around in a tight range this week.  The cross threatened to break lower on Wednesday only to sharply reverse course.  The pair has now painted itself into a corner, formed by a wedge.  The top of the wedge is at 1.6050 and the bottom rest on the ascending trend line around 1.60.  the cross also has a daily descending trend line intersecting the cross around 1.6050.  The BoE rate decision is due on Thursday and could provide a bit of volatility.

Chop Zone 1.6050/1.60

Res               1.6180

Sup               1.5960          1.5903( 50 Fib)

Keane Plan...Waiting for a break of the  Chop Zone/Wedge.   Will let the price action tell me which way this pair wants to go.

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