GBPUSD Bullish Flag

Cable is forming a bullish flag formation on the 4 hour charts, the pair traded inside a small bearish channel for the past 2 weeks and it looks like once it gets above the 2.00 it’ll have enough energy to pus higher towards the 2.03 and 2.05 the projected targets of this pattern. Cable is forming a bullish flag formation on the 4 hour charts, the pair traded inside a small bearish channel for the past 2 weeks and it looks like once it gets above the 2.00 it’ll have enough energy to pus higher towards the 2.03 and 2.05 the projected targets of this pattern. Conversely we notice that the upper trendline coincides with the 2.00 level and this is an important resistance where bearish traders will look to open new positions; so until we see how price action develops around that zone we will have to wait.

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