Open:
High:
Low:
Close:
RECTANGLE
GBP/USD
1H
It seems like a rectangle is close to being finished, the price is about to break out now.
If price breaks out, the resulting move could indicate that prices are likely to keep rallying upward.
Gbpusd could attempt a move towards 1.32.
BULLISH FLAG
GBP/USD
1H
It looks like a bullish flag has been diagnosed, the price requires a bigger move as proof of a breakout.
A bullish flag typically results in that the price to go long in case if price breaks out to the the upside.
Gbpusd challenges a move towards 1.318.
PENNANT
GBP/USD
4H
There is a pennant exposed and gbpusd asks for a next steady bullish action as an indication of a breakout.
A pennant is said to depict a technical bullish price action indicator that often spots a bullish price action in case if price breaks out.
It is likely that a rangebound to 1.318 will form on a breach of 1.317.
DESCENDING CHANNEL
GBP/USD
1H
A descending channel comes out and gbpusd needs a next active move for clear breakout confirmation.
A descending channel is a bullish price pattern that predicts a next move up when price breaks out.
Gbpusd points to the upside to 1.314.
FALLING WEDGE
GBP/USD
1H
There is a falling wedge forming, the price is ready to break out soon.
A falling wedge represents a bullish chart indicator that often signals an interruption of a downtrend once price breaks out.
A bullish push up towards 1.314 is possible on impulse above 1.3135.
PENNANT
GBP/USD
1H
It seems like a pennant is close to being done.
A pennant typically results in the bulls have run out of steam once price collapses through the support line.
There is a probability of decline towards 1.312.
ASCENDING CHANNEL
GBP/USD
4H
It looks like an ascending channel has been recognized and gbpusd asks for a more strong move as proof of a breakout.
An ascending channel is a useful indicator that typically spots a bearish move if price breaks through the support.
Gbpusd to extend its setback to the 1.31 level on a downside break.
FALLING WEDGE
GBP/USD
1H
There is a falling wedge exposed, the price requests a steady bullish action for the certainty of breakout.
A falling wedge suggests a compelling price action pattern that is used to indicate a pause in a downtrending market once price breaks through the resistance.
Gbpusd to grind higher towards 1.317.
ASCENDING CHANNEL
GBP/USD
1H
Gbpusd shapes an ascending channel, the price is ready to break out now.
An ascending channel is considered to be a technical bearish pattern that has an upward slope that is used to signal a next move down when price breaks through the support.
Gbpusd is at risk of extending its slump to the 1.315 mark.
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