As we can see an ascending triangle has been detected.
An ascending triangle often indicates an extension in the upward direction in case if price breaks above resistance.
GBP/USD now looks to the 1.274 zone as GBP/USD is at a brink of a bullish breakout.
GBP/USD: Rectangle
GBP/USD,
1 hour
LONG
Aug 29
A rectangle turns up.
A rectangle results in a next move up once price breaks through the resistance.
It is possible that a bullish push up towards 1.264 will be made.
GBP/USD: Pennant
GBP/USD,
1 hour
SHORT
Dec 12
It looks like a pennant arises, GBP/USD lacks a more active move as a verification of a breakdown.
Once price breaks out, the resulting move could signal the bulls have run out of steam.
It is likely that a bearish price action to the 1.274 mark will take place on a breach of 1.275.
GBP/USD: Ascending Triangle
GBP/USD,
1 hour
SHORT
Sep 30
It looks like an ascending triangle materializes, the price asks for a next move as an indication of a breakdown.
An ascending triangle suggests a bearish chart pattern that can be used to indicate a sharp decline if price breaks out to the the downside.
There is a probability of a rangebound towards 1.337.
GBP/USD: Bearish Flag
GBP/USD,
1 hour
SHORT
Jan 27
As we can see a bearish flag is revealed, the price is ready to break out soon.
A bearish flag often indicates extending an downtrend if price breaks below support.
A bearish run towards 1.24 about to be made on a break below 1.244.
GBP/USD: Bullish Rectangle
GBP/USD,
1 day
LONG
Jun 15
There is a bullish rectangle arising.
A bullish rectangle describes a technical bullish price formation that predicts an extension in the upward direction if price breaks through the resistance.
GBP/USD to prolong the growth phase to the 1.27 zone.
GBP/USD: Ascending Channel
GBP/USD,
1 hour
SHORT
Apr 14
It looks like an ascending channel is discovered, the price expects next active push down as proof of a breakout.
In case if price breaks out, the move could predict price heading to a new direction.
GBP/USD risks extending drop towards the 1.25 level as GBP/USD probes 1.252 hurdle.
GBP/USD: Descending Channel
GBP/USD,
1 hour
LONG
Dec 19
There is a descending channel forming and GBP/USD asks for a move for the certainty of breakout.
A descending channel spots a next move up if price breaks through the resistance.
GBP/USD to extend its rebound towards 1.268 on a breach of 1.266.
GBP/USD: Rising Wedge
GBP/USD,
1 hour
SHORT
Sep 6
It seems like a rising wedge is close to being completed and GBP/USD requires a further strong move for the certainty of breakout.
A rising wedge denotes a price action formation with an upward bias that signals price heading to a new direction if price collapses through the support line.
There is a possibility of further decline towards the 1.317 level.
GBP/USD: Pennant
GBP/USD,
1 hour
SHORT
Jan 10
We can see that a pennant is almost completed.
A pennant tends to be a compelling formation that is used to indicate a move down if price breaks through the support.
GBP/USD targets a move towards the 1.226 mark on a breach of 1.2265.
GBP/USD: Ascending Channel
GBP/USD,
1 hour
SHORT
Jul 25
GBP/USD gives an ascending channel.
An ascending channel can be thought of as a reliable formation that is used to spot a next move down once price breaks down.
GBP/USD to drop to the 1.289 level as GBP/USD challenges 1.2896 hurdle.
GBP/USD: Rising Wedge
GBP/USD,
1 hour
SHORT
Jun 28
The price gives a rising wedge and GBP/USD needs a strong impulse down as a signal of a breakout.
A rising wedge signals that the price to go short if price breaks below support.
A bearish run towards 1.272 stays on the cards on a breakdown of the rising wedge as door open for a test of 1.272.
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GBP/USD