From the GBPUSD chart above, we can deduce that the GBPUSD is rallying to touch the 4h support at 1.37474 but there is a tendency of it shorting beyond this price because of the day chart major support at 1.37277.
NOTE : All order should be pending as we anticipate Gov. Bailey(governor BOE)'s speech in the next 2hrs 40mins.
Being enclosed in a symmetrical triangle is a long signal. There are three 3 possible price level to strike your buy button
•if candlestick breaks out of the resistance line.
•allow for a consolidating buy at the apex of the symmetrical triangle.
•if it forms a pin bar at the support.