GBP/USD Short
Okay we all know that the Fed plans to raise rates Wednesday and barring something unforeseen to happen then this is a positive sign for USD. What we do not know is how the market will react to how fast the next rise will happen. That is not our job to speculate, trade the PA. and on the daily charts without a 1.53 daily close this makes GBP/USD very short from here. The top red line is a falling wedge pattern that aligns perfectly with the 50 period MA. behind it is the 200 MA at the 1.53 level to me that indicates a strong resistance base to start.
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