GBPUSD could be on the verge of a massive bull run.
I wrote about the twenty-year falling wedge on October 29th.
The structure above hints at a bullish reversal for the pound.
That isn’t surprising given what we’ve seen from other major currency pairs in recent months.
However, GBPUSD buyers still have work to do.
The pair needs to secure a weekly close above wedge resistance near 1.3340.
I’d also like to see GBPUSD buyers take out the recent highs at 1.3480.
Those are the two key resistance levels that need to break to send GBPUSD higher in 2021.
A weekly close above 1.3340 followed by 1.3480 would open the door to the 2018 highs at 1.4350.
I will continue to like the idea of an imminent break higher as long as the May trend line support is intact.
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