GBPUSD continues to coil for what could be an aggressive breakout. The consolidation pattern you see in the chart below has formed a wedge. I mentioned this narrowing price action on Monday. Usually, the longer a market takes to break from a terminal pattern such as this, the more explosive the breakout is likely to be. You can see where our trend line resistance came into play yesterday. Today’s session is also having trouble in that 1.2785 area. The 4-hour chart shows it best. But remember what I wrote on Monday. Although I’m showing this wedge on a 4-hour time frame, it’s going to take a daily close below or above ... (full story)