GBPUSD: Decisive Moment

GBPUSD, Daily

In the Daily timeframe, GBPUSD, in a long-term uptrend, formed an expanding wedge pattern. The price has reached the 161.8 Fibonacci resistance and is testing the upper Bollinger line. Moreover, a divergence was formed on the MFI.

• If the bulls push the price above the resistance of 1.3010, the growth will be up to 1.3140 and with further growth up to 1.3260;

• A rebound from resistance will drop GBPUSD to support at 1.2860;