GBP/USD Intraday Pattern Reversal

The GBP/USD is setting up a potential reversal through the resistance of the falling wedge pattern on the 60 minute chart.  The break comes after a day that the U.S. Dollar rallied because of the widespread equities sell-off during Thursday’s session and in front of Friday’s Non-Farm Payroll.  The long entry at the downtrend line would be an aggressive buy since the downtrend is still intact.  The rally may start to slow as prices reach the 34ema low at 1.5825.  Look to take any breakout through 1.5770 to 1.5795 and then 1.5820.  Look for selling pressure between 1.5825 and 1.5838.