GBP/USD - Bear flag signalling a move lower....

FX:GBPUSD   British Pound / U.S. Dollar
- GBP/USD looks to be forming a Bear Flag pattern after its drastic move lower post-Brexit headlines last week
- Price appears to have found resistance within this pattern at previous support level
- Wait for a break + possible retest of the lower trend-line support of this pattern to go short
- If price were to move lower the first major support it will run into is the recent swing low @ ~ 1.27 (Psychological)
- Watch price action around this level for a further continuation short, OR possible price reversal as shown in my other Analysis of the pair, I will post that in the comments section.

Nov 20
Comment: - Price now breaking the lower trend-line support of the pattern as expected
- Wait for a 4h candle close below this level to establish a short position
- First target would be the 1.26 support level, where as shown in my other idea..Could be the setup for a double bottom reversal:
Nov 20
Comment: **** 1.27 is the support level NOT 1.26, my mistake
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out