GBPUSD attempts to get rid of the negative pressures - Technical Analysis - 05-10-2015

The GBPUSD pair rose on the last trading on the intraday basis, supported by the SMA50, accompanied with a divergence signal coming from stochastic that appears on chart, amid of being affected by technical formation on the short term basis, which is a falling wedge that appears on image, and the price will exit its range by breaching this pattern’s resistance.

Therefore, we expect more rise at the upcoming trading, targeting 1.5287 key resistance as a main target for the mentioned formation.