GBPUSD – SHORT
As shown on the chart below, Daily price action has been consolidated within a flag pattern while holding steady above our key EMA’s and support area.
Prior to making its latest highs at $1.30, price was able to break its previous highs at $1.28 with a steady flow of Bullish momentum.
In the intraday 4h timeframe below, price has been steadily consolidating within the trend lines of the daily flag pattern. Most recently the Forex pair has printed a 4H Bullish Engulfing candlestick which is supported by the intra-day support and all three of the our key EMA’s
If you would like to get notified of similar potential trading setup or educational articles on Forex trading & Technical Analysis, please SUBSCRIBE below.