The Cable lost its upside momentum in the middle of December after a strong (12%) rally higher and the 3 month period of consolidation that followed ended with the pair accelerating lower to test the 1.14 area just last week. It has since managed to rebound to back-test the 1.1950 – 1.20 area which from […]
The GBPUSD (Cable) has broken above the neckline of an inverted H&S formation on the 4h chart, following the positive statements form Merkel regarding a Brexit deal.
By definition, the descending wedge is an eventual reversal pattern. In this pair, we have made a pivot near the lows from 2019 at 1.2400 and have reversed higher.