Open:
High:
Low:
Close:

GBP/USD: Descending Channel

GBP/USD, 4 hours    LONG May 30
The price sets up a descending channel and the price wants a further strong move to confirm descending channel breakout. A descending channel is a bullish chart indicator that can be used to indicate a change in the prevailing trend in case if price breaks out. There is a chance of a rangebound towards the 1.245 mark on impulse above 1.239.
Disclaimer. No Investment Advice Provided. Any opinions, chats, messages, news, research, analyses, prices, or other information contained on this Website are provided as general market information for educational and entertainment purposes only, and do not constitute investment advice. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Patterns.cc will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from use of or reliance on such information. Risk Disclosure. Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.