Bullish flag forming | 09 December 2013
09 December 2013, GBP/USD
GBP/USD has pulled back, forming a flag continuation pattern which looks like it is close to completing. The trend is bullish so a break higher is expected after the pattern finishes. The count taken from the long column of X's at the 26th November lows targets 1.6680. A break above the 1.6405 highs would help confirm a bullish breakout. A closer intial target, however, might be the ressistance level at 1.6550.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
