Sasha Singh
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GBPUSD : Following Falling Wedge Pattern

GBPUSD seems like following a falling wedge pattern on the hourly chart. The falling wedge gives bullish signal, according to which the pair should break the resistance trend line of the wedge and move in upward direction reversing the down trend to uptrend.

Pound is although falling today because of the missed public sector borrowing in U.K. Investors sold pound after the data showed that U.K. public sector net borrowing rose by 7.5 billion in February missing the expectation for an increase of 8.6 billion.