There's a multiple-bar inside bar candlestick pattern formed on GBP/USD. There are a lot of bars contained within this inside bar candlestick pattern which could lead to a strong breakout or breakdown in today's London session. If the price breaks below the low of the inside bar candlestick pattern, we could potentially have selling opportunities in today's London session and the lower band of the Bollinger Band could serve as a target for sellers. On the flip side, if the price breaks above this inside bar candlestick pattern, traders could watch for sell signals at the 200 period golden moving average. The long term trend is still down as the price remains below the 200 period golden moving average thus we could potentially have selling opportunities in today's London session.
There's a multiple-bar inside bar candlestick pattern formed on GBP/USD. There are a lot of bars contained within this inside bar candlestick pattern which could lead to a strong breakout or breakdown in today's London session. If the price breaks below the low of the inside bar candlestick pattern, we could potentially have selling opportunities in today's London session and the lower band of the Bollinger Band could serve as a target for sellers. On the flip side, if the price breaks above this inside bar candlestick pattern, traders could watch for sell signals at the 200 period golden moving average. The long term trend is still down as the price remains below the 200 period golden moving average thus we could potentially have selling opportunities in today's London session.