From TradingView · · 40s
Pound Dollar Wedge Support Recovery
GBP/USD holds 1.34858 as institutional buyers push recovery toward 1.35400 resistance
In brief
GBP/USD holds 1.34858 as institutional buyers push recovery toward 1.35400 resistance Institutional buyers are absorbing sell liquidity to target 1.35350 resistance after testing 1.34700 support Originally reported by TradingView.
Wedge Support Testing
GBP/USD trades near 1.34858 testing 1.34700-1.34800 demand zone
“Holding macro support near 1.34858! Are you panic-selling this secondary wedge compression at structural demand, or locked in for the multi-wave relief surge back up to descending resistance?”
Institutional Buy Flow
Institutional buyers absorb overextended sell liquidity to engineer recovery toward 1.35100
Multiwave Sequence
Algorithm projects five-wave recovery: impulse rebound to 1.35100, higher-low pullback to 1.34950, expansion wave to 1.35250, consolidation to 1.35100, acceleration surge to 1.35350
Target Resistance
Primary target at 1.35350-1.35400 resistance zone for institutional buyers
Trade Parameters
Long entry 1.34700-1.34850 with stop-loss below 1.34500 and take-profit at 1.35350
The short version
Institutional buyers are absorbing sell liquidity to target 1.35350 resistance after testing 1.34700 support
