It looks like a rising wedge has been found and the price demands bigger pullback as proof of a breakout.
A rising wedge results in a move down in case if price collapses through the support line.
GBP/USD to experience further corrective weakness to 1.278 on a breach of 1.2785 as bearish momentum increases.
GBP/USD: Rectangle
GBP/USD,
1 hour
SHORT
Jul 25
We can see that a rectangle has been noticed, the price requests a strong move for the certainty of breakdown.
A rectangle is considered to be a specific chart indicator that can be used to predict that the price to go down in case if price breaks below support.
Corrective downside to 1.288 is on the cards once below 1.2884.
GBP/USD: Ascending Channel
GBP/USD,
1 hour
SHORT
Nov 21
An ascending channel is nearing completion and the price demands an active move as evidence of a breakdown.
An ascending channel results in a bearish price action once price breaks out to the the downside.
GBP/USD targets a move to 1.262 as GBP/USD loses bullish momentum.
GBP/USD: Bullish Flag
GBP/USD,
4 hours
LONG
Jun 30
A bullish flag is close to being complete and the price is ready to break out soon.
A bullish flag typically predicts a break in the price direction if price breaks through the resistance.
GBP/USD dives out bearish trendline towards the 1.275 mark on a breakout of the bullish flag.
GBP/USD: Descending Channel
GBP/USD,
1 hour
LONG
Jul 16
It seems like a descending channel forms, the price wants a more bullish impulse for the certainty of breakout.
In case if price breaks through the resistance, the move could signal an extension in the upward direction.
A bullish price action towards 1.297 looks likely while above 1.2964.
GBP/USD: Bullish Rectangle
GBP/USD,
1 hour
LONG
May 5
There is a bullish rectangle appearing, the price is ready to break out now.
A bullish rectangle often results in a bullish price move when price breaks out to the the upside.
GBP/USD advances higher towards 1.26 on a breach of 1.2596.
GBP/USD: Ascending Channel
GBP/USD,
1 hour
SHORT
May 29
The price composes an ascending channel and GBP/USD wants a more bigger move to confirm ascending channel breakdown.
An ascending channel denotes a specific bearish indicator that can be used to identify a bullish-to-bearish trend reversal in case if price breaks below support.
GBP/USD set to fall towards 1.275 on a breach of 1.2755.
GBP/USD: Pennant
GBP/USD,
1 hour
SHORT
Oct 12
The price completes a pennant, the price breaks out.
A pennant typically signals that the price to go short when price breaks through the support.
GBP/USD set to fall to the 1.229 level as there is a chance of further weakness.
GBP/USD: Ascending Triangle
GBP/USD,
1 hour
SHORT
Nov 30
There is an ascending triangle emerging.
An ascending triangle represents a bearish indicator that is used to signal a further move down if price breakdown occurs.
GBP/USD to move downward to 1.269.
GBP/USD: Rising Wedge
GBP/USD,
1 hour
SHORT
Nov 29
As we can see a rising wedge has been distinguished, the price asks for a strong bearish continuation to confirm rising wedge breakdown.
A rising wedge identifies a bearish price action in case if price breaks out.
GBP/USD to suffer further downside to 1.265 on a breach of 1.27.
GBP/USD: Descending Triangle
GBP/USD,
1 hour
SHORT
Sep 1
We can see that a descending triangle is close to being finished and the price lacks a next steady move for the certainty of breakout.
In case if price breaks below support, the move could indicate a next move down.
GBP/USD to nosedive to the 1.264 level on a breakout of the descending triangle.
GBP/USD: Descending Channel
GBP/USD,
1 hour
LONG
Sep 27
We can see that a descending channel emerges and the price is going to break out soon.
A descending channel represents a compelling bullish price pattern that typically results in a potential bullish reversal in price action when price breaks through the resistance.
GBP/USD could attempt a move towards 1.216 on a breach of 1.214 as outlook for the currency pair stays positive.
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GBP/USD