Open:
High:
Low:
Close:
FALLING WEDGE
GBP/USD
1H
We can see that a falling wedge has been revealed and gbpusd needs a bigger bullish action as an indication of a breakout.
A falling wedge can be thought of as a pattern that identifies a break during a downtrending market in case if price breaks above resistance.
A bullish push up towards 1.352 is going to happen.
BULLISH FLAG
GBP/USD
1H
A bullish flag has been exposed, gbpusd asks for a next steady bullish action as evidence of a breakout.
In case if price breaks out, the move could signal a further move up.
Gbpusd points to the upside to 1.35.
PENNANT
GBP/USD
4H
As we can see a pennant has been detected.
A pennant often signals the more likely potential of falling prices when price breaks below support.
Extra downside to 1.346 about to be made.
PENNANT
GBP/USD
1H
It seems like the price composes a pennant, the price is going to break out.
A pennant indicates a bearish price move once price breaks below support.
There is a chance of decline towards the 1.347 zone as gbpusd looks offered.
PENNANT
GBP/USD
1H
A pennant has been encountered, gbpusd demands more steady fall as a signal of a breakout.
Once price breaks out, the move could spot prices are likely to keep falling downward.
Gbpusd looks south towards 1.348 as bears looking for downside correction.
ASCENDING CHANNEL
GBP/USD
4H
As we can see an ascending channel is encountered.
An ascending channel typically spots a countertrend succeeding the current trend when price breaks below support.
Gbpusd opens door for a move to the 1.346 level as downtrend may continue.
DESCENDING CHANNEL
GBP/USD
1H
A descending channel is determined.
A descending channel is believed to be a technical chart indicator that typically predicts a further move up once price breaks above resistance.
A further bullish push up towards the 1.354 level stays on the cards on a breach of 1.352 as bulls looking for profit.
DESCENDING CHANNEL
GBP/USD
1H
Gbpusd shapes a descending channel and gbpusd requires a bit more consolidation as a verification of a breakout.
When price breaks above resistance, the move could predict an interruption of a downtrend.
It is likely that a further bullish move towards 1.352 will take place on a breakout of the descending channel as indicators favor bulls.
PENNANT
GBP/USD
1H
It seems like a pennant is nearing completion and gbpusd wants a further bigger correction as a sign of a breakout.
A pennant can be thought of as a compelling chart pattern that signals extending an downtrend if price collapses through the support line.
A bearish continuation towards the 1.351 level is going to happen.
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