GBPUSD Shooting Star and Rising Wedge Pattern

GBPUSD Shooting Star and Rising Wedge Pattern

GBPUSD Weekly Shooting Star rejecting Weekly Resistance Zone. We can see similar pattern formed before but bear couldn’t took control over bull, now Another shooting star formed at better price if current candle close as solid bear candle bear would have another chance to take control.

If we see daily chart we can find a bearish Chart Pattern there, “Rising Wedge” and price broker its lower trend line As per Rising wedge Price could drop to 1.5900 level where A strong Support stand.

Only short setup is suggested at this point.

 

Key Points

– Weekly Shooting Star

– Confirmation candle

– Rising Wedge Breakout

Weekly

GBPUSD Shooting Star and Rising Wedge PatternDaily

GBPUSD Shooting Star and Rising Wedge Pattern