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RISING WEDGE
GBP/USD
1H
There is a rising wedge developing, the price is ready to break out.
A rising wedge suggests a technical price action pattern that signals a temporary interruption during a rising market if price breaks down.
It is possible that a bearish run to the 1.358 level will occur on a breakout of the rising wedge as indicators favor bears.
ASCENDING TRIANGLE
GBP/USD
1H
The price sets up an ascending triangle, gbpusd requires a bigger move for clear breakdown confirmation.
When price breaks out to the the downside, the resulting move could signal the bulls have run out of steam.
It is not ruled out that a bearish move to 1.36 will be made on a downside break as minor hurdle remains at 1.362.
FALLING WEDGE
GBP/USD
1H
We can see that a falling wedge occurs, gbpusd wants a next move as an indication of a breakout.
A falling wedge is considered to be a bullish signal that is used to indicate that the price to go up once price breaks out.
It is possible that a move towards the 1.36 mark will happen.
DESCENDING CHANNEL
GBP/USD
1H
It looks like gbpusd forms a descending channel, the price requests bigger push up as a sign of a breakout.
A descending channel typically results in a change in price direction if price breaks through the resistance.
Gbpusd to maintain its positive tone towards the 1.358 level on a breakout of the descending channel amid gbpusd reclaims part of the ground lost.
DESCENDING CHANNEL
GBP/USD
1H
A descending channel is identified and the price is breaking out.
A descending channel indicates the more likely potential of rising prices once price breaks out to the the upside.
Gbpusd to resume its rise to 1.36.
RECTANGLE
GBP/USD
1H
The price gives a rectangle.
A rectangle can be thought of as a compelling chart formation that predicts extending an downtrend once price collapses through the support line.
Gbpusd accelerates losses towards the 1.362 mark.
ASCENDING CHANNEL
GBP/USD
1H
An ascending channel is almost finished, the price is ready to break out.
An ascending channel tends to be a useful chart signal that can be used to spot a next move down when price breaks out.
It is possible that a further bearish run towards 1.364 will happen.
ASCENDING CHANNEL
GBP/USD
1H
We can see that the price shapes an ascending channel.
An ascending channel can be thought of as a specific bearish chart signal that spots a bearish price action once price breaks down.
It is possible that a bearish push down towards 1.366 will occur on a breach of 1.368 as the currency pair becomes weak.
RISING WEDGE
GBP/USD
1H
It seems like gbpusd develops a rising wedge and the price is close to breaking out.
If price breaks down, the move could spot a next move down.
There is a chance of a rangebound to 1.37 amid gbpusd recedes from recent highs.
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