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FX.co ★ GBPUSD M15: Bearish Flag

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Technical Analysis Patterns

2023-10-13T11:46:00
Signal strength 2 of 5

GBPUSD M15: Bearish Flag

Bearish FlagThe Bearish Flag pattern has been formed on GBPUSD at M15. The lower boundary of the pattern is located at 1.2154/1.2176 while the upper boundary lies at 1.2182/1.2204. The projection of the flagpole is 52 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 1.2154 is broken, the price will move further downwards.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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Other patterns by GBPUSD