GBPUSD broken rising wedge consolidation retest
GBPUSD is retesting the broken rising wedge 1.3000. A confirmed close above the 1.3080 is required for an upside reversal. For a downside extension continuation and a higher probability short trade entries, we need to see a rejection here and a confirmed break below 1.2920. A break below this level would lead to an extension lower to 1.2670. The overall long-term is downtrend but we need to see a break below 1.2670 for a complete downside continuation extension.
Note – We are more inclined to short trade with the stop loss above 1.3050
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