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Breakout from bull flag

Breakout from bull flag | 10 December 2013

10 December 2013, GBP/USD

GBP/USD has broken out of its flag continuation pattern and started to rise higher in line with the dominant up-trend. It is expected to continue rising until it reaches the next target at the 1.6550 resistance level. A break above the current column highs at 1.6470 would provide confirmation. Eventually it is expected to reach the target from the count taken from the long column of X's at the 26th November lows at 1.6680.
Breakout from bull flag
Mark Satcher
Analyst of «FreshForex» company
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