Pattern: 1D Channel Up. Signals and Targets: Bullish if the 4H Lower High trend line Resistance breaks (red line) with TP 1.3500. Bearish if 1.2955 breaks with TP 1.2775.
Pattern: Channel Up on 1D. Signal: Bearish as 4H is on Lower Highs creating a Triangle. Target: 1.3060 (Higher Low). * If 1.2955 breaks it is a bearish break out from the 1D Channel Up. TP 1.2775.
Pattern: 1D Channel Up. Signal: Bearish after the pattern made a Higher High. Target: 1.3110 (the inside supporting trend line of the Channel Up). The long term Brexit effect on GBPUSD:
Here I have put together the time-line of the Brexit related events and how those affected the price of GBPUSD. GBPUSD was rebounding on its 7 year support zone when the Brexit vote took place, causing a lash crach on the pair. The pair's strong bullish technical inclination (mixed with hopes of no Brexit) made it rebound again following the vote. It reached...
Pattern: Channel Up on 1D. Signal: Bullish after making a Higher Low. Target: 1.3300.
Pattern: Ascending Megaphone on 1D. Signal: Bearish after the price was rejected on the 1W Resistance. Target: 1.2900 (-3.36% pull back based on previous Higher Low).
Pattern: Inverse Head and Shoulders on 1D. Signal: Bearish near the 1.3300 1D Resistance and the RSI turning 70.000. Target: 1.2830.
GBPUSD possible going Up for long tram.
GBPUSD BUY SETUP Just Retrace 50 to 80 pips