Open:
High:
Low:
Close:
DESCENDING CHANNEL
GBP/USD
1H
The price gives a descending channel.
A descending channel typically signals a pause in a downtrending market if price breaks out to the the upside.
Gbpusd looks north to the 1.326 level.
RECTANGLE
GBP/USD
1H
There is a rectangle spotted, the price is breaking out.
A rectangle is considered to be a chart signal that predicts a bullish price action if price breaks out to the the upside.
It is likely that a bullish price action towards 1.324 will form.
DESCENDING CHANNEL
GBP/USD
1H
There is a descending channel poping up.
A descending channel tends to be a reliable bullish price pattern that can be used to signal an extension in the upward direction when price breaks through the resistance.
Gbpusd turns higher to 1.324 while above 1.3215.
FALLING WEDGE
GBP/USD
1H
There is a falling wedge observed.
A falling wedge spots a breakout higher once price breaks through the resistance.
It is likely that a bullish push up towards 1.322 will be made.
RISING WEDGE
GBP/USD
4H
There is a rising wedge encountered and the price is about to break out.
A rising wedge indicates a move down once price collapses through the support line.
Gbpusd to experience further corrective weakness towards the 1.315 mark as extra rangebound not ruled out.
ASCENDING CHANNEL
GBP/USD
1H
There is an ascending channel uncovered.
In case if price collapses through the support line, the resulting move could spot the more likely potential of falling prices.
Gbpusd targets a move towards 1.32 on a breach of 1.321 as risk reversal sheds bullish bias.
ASCENDING CHANNEL
GBP/USD
1H
There is an ascending channel distinguished.
An ascending channel represents a compelling signal that often signals a bearish move when price breaks out to the the downside.
There is a probability of a bearish move to the 1.32 zone while lower than 1.3215 as minor hurdle remains at 1.3215.
DESCENDING TRIANGLE
GBP/USD
1H
There is a descending triangle revealed and gbpusd calls for a next active move as an indication of a breakout.
A descending triangle often results in that prices are likely to keep rallying upward when price breaks above resistance.
It is likely that a bullish push up to the 1.324 level will be made once beyond 1.3228.
RISING WEDGE
GBP/USD
1H
A rising wedge is very close to being completed, the price expects a next move for the certainty of breakout.
If price breaks out, the move could predict a bearish move.
It is possible that extra downside towards the 1.322 mark will form on a breach of 1.3226 as weakness continues.
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