Forex - Chart GBP/USD Update: Tightening wedge at 1.27~

 07:24 (GMT) 06 Dec

  [Forex Charts]

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Chart GBP/USD Update: Tightening wedge at 1.27~ (0101-GQYQ-C01)

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Asterisk denotes strength of level

07:05 GMT - After Wed.'s inside day, GBP starts today inside Wed.'s value , signalling more balance but bringing the market closer to a s/term breakout. For the moment, the 1.2660~ line is clearly being defended- it may take a quick test below to trigger a rally but a nudge past the latest pivot high 1.2840 could do the same- a rally targets the 1.2925 spike. A drop through 1.2660 of moderate strength could tag the big Fib line & look for the same response. Persistence below 1.2660 starts to look weak.

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