Breach of resistance line imminent by GBPUSD

Past performance is not an indicator of future results.
GBPUSD is moving towards the resistance line of a Rising Wedge which it has tested numerous times in the past. We have seen it retrace from this line before, so at this stage it isn’t clear whether it will breach this line or rebound as it did before. If GBPUSD continues in its current trajectory, we can expect it to reach 1.3001 within the next 8 hours.

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