Open:
High:
Low:
Close:
RECTANGLE
GBP/USD
1H
It looks like a rectangle is almost completed.
A rectangle provides a compelling bearish indicator that often results in a bearish price action when price breaks through the support.
Gbpusd opens door for a move towards 1.345 on a breakout of the rectangle.
DESCENDING TRIANGLE
GBP/USD
1H
There is a descending triangle spotted, the price is breaking out.
A descending triangle predicts an extension in the upward direction when price breaks out to the the upside.
There is a possibility of a further rangebound towards the 1.3465 level.
ASCENDING CHANNEL
GBP/USD
1H
As we can see the price shapes an ascending channel.
An ascending channel tends to be a technical formation that can be used to signal a break during an uptrending market when price breaks out.
It is not ruled out that extra downside towards 1.346 will form on a breach of 1.3466 amid rising bets for the move.
PENNANT
GBP/USD
4H
There is a pennant uncovered and the price is breaking out.
A pennant signals a bearish move in case if price breaks down.
Gbpusd to push down to 1.34.
ASCENDING CHANNEL
GBP/USD
1H
It looks like an ascending channel has been encountered, gbpusd requires a further steady correction as proof of a breakout.
An ascending channel tends to be a reliable pattern that has an upward slope that can be used to identify a move down in case if price collapses through the support line.
Gbpusd risks extra losses to 1.345 on impulse below 1.3462 as gbpusd becomes capped.
ASCENDING TRIANGLE
GBP/USD
1H
We can see that gbpusd shows an ascending triangle.
An ascending triangle suggests a bearish price action formation that results in the bulls have run out of steam in case if price collapses through the support line.
There is a possibility of decline to the 1.344 level.
PENNANT
GBP/USD
1H
It looks like a pennant has been discovered, gbpusd needs a more bigger move for clear breakout confirmation.
A pennant identifies a specific bullish price action formation that is used to identify a next move up when price breaks out.
Gbpusd targets a move towards the 1.345 level.
BULLISH FLAG
GBP/USD
1H
We can see that a bullish flag is close to being done and gbpusd demands a next strong move to confirm a breakout.
A bullish flag typically identifies extending an uptrend when price breaks out.
There is a chance of a rangebound towards 1.344 on a upside break.
ASCENDING CHANNEL
GBP/USD
1H
An ascending channel occurs.
An ascending channel often indicates that the price to go down if price breaks out to the the downside.
It is possible that a bearish move to 1.342 will be made as gbpusd becomes under pressure.
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