GBP/USD: bearish "Flag"

GBP/USD: bearish "Flag"

10-8-2017-GBP-H4.png

There's a consolidation, which is taking place near the 89 Moving Average. Also, there's a possible developing "Flag" pattern, so bears are likely going to reach the nearest support at 1.2932 soon. If a pullback from this level arrives little later on, there'll be an option to have a bullish price movement towards the closest resistance at 1.2982 - 1.2997.

10-8-2017-GBP-H1.png

We've got a bearish "Flag", so the market is likely going to test the upper side of this pattern. If a pullback from the nearest resistance at 1.2997 - 1.3013 happens afterwards, we should keep an eye on the next support at 1.2958 - 1.2932 as an intraday target.

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GBP/USD: pound entered into channel Tenkan-Kijun

Bullish Ichimoku Cloud with horizontal Senkou Span A and B; a golden cross of Tenkan-sen and Kijun-sen with horizontal lines; the market is under strong resistance and prices entered into the channel Tenkan-Kijun.

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