The GBP/USD pair has created a bull flag pattern on the 4-hour chart – a bullish continuation pattern, which often ends up accelerating the preceding bullish move.
As of writing, the flag resistance is seen at 1.3266. A break above that level would confirm flag breakout and open the doors to 1.3648.
The breakout looks likely, as both the rising trendline and the 50-candle MA holding above the 200-candle MA indicates that the path of least resistance is to the higher side.
The bullish case, however, would weaken if the spot finds acceptance under the 1.3172 (low of the doji candle carved out in the last 4-hours).
4-Hour Chart
-636872578612362708.png)
Trend: Bullish
Share
