GBPUSD: Candle Setup Points to Weakness
Strategy: Pending Short
The GBPUSD weekly chart reveals a Bearish Engulfing candlestick pattern below familiar resistance at 1.6744. A bearish Rising Wedge chart pattern carved out over the past 12 months reinforces the case for a downside scenario. We will look for a break below the wedge bottom (now at 1.6153) for confirmation to enter short.
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