EDGE Chart of the Day 1-28-2015 GBP/USD

28. January 2015 · Write a comment · Categories: EDGE Chart of the Day · Tags: ,

The GBP/USD hourly chart has a possible cup and handle pattern if the hourly chart can push past the 38% retracement level and horizontal resistance that resides at 1.5225.

1-28-15GBPUSD

If the GBP/USD can break higher, the upside target resides near the 61.8% retracement and trend line that has been in existence since July 2014.

1-28-15GBPUSD1

 

Blake Morrow

Chief Currency Strategist, Wizetrade

 

Disclaimer: I am not long the GBP/USD but may establish a long position within the next 72 hours.

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