Charles-OW

Charles-OW

By the looks of it, price made a clean double bottom after it reached the support area of 1.34200. Now price looks like it will make an inverse head & shoulder pattern. If the pattern does hold, I’m expecting price to reach the resistance area of 1.39000.

Charles-OW

On the 4H timeframe, I saw what looks to be a falling wedge pattern. If the pattern does hold, I’m expecting a break & retest of the pattern before price revisits the last resistance.

Charles-OW

After price made a double top, it broke through the support with a bearish engulfing candle. This suggests that sentiment is weak for this pair. Possible break and retest on the daily timeframe.

Charles-OW

Possible cup & handle pattern on the 1H timeframe.................................................................................................................

Charles-OW

By the looks of it, price is finding it difficult to push past my trend line. Every time price breaks through, it subsequently returns back into the trend line. Now with price at the tip of the triangle, I’m expecting a bearish break of the pattern.

Charles-OW

By the looks of it, price is repeating pattern it previously did before continuing to the downside. Possible descending triangle in my eyes.

Charles-OW

On the 4H timeframe, I can see price once again has failed to break through the support area of 1.25800. To me, the pattern that price is currently making looks like a W pattern, so I’m expecting price to continue being bullish until it reaches the last resistance.

Charles-OW

At the moment, this pair is still in a long term sell. By knowing that, I can assume this break and retest of the previous support will result in a continuation to the downside.

Charles-OW

After price made a triple top, this pair became bearish. Now since price has broken through the support, this looks like a possible break & retest.

Charles-OW Updated 

At the moment, this pair is travelling in between the resistance area of 1.16700 and the support area of 1.16170.

Charles-OW

By the looks of it, price is making an ascending triangle on the 4H timeframe.

Charles-OW

When price broke out of the falling wedge, it consolidated between the support area of 1.25700 and the resistance area of 1.26800. After price broke out of the consolidation zone, it retested the previous resistance area. Since the new support area looks like it will hold, I’m expecting price to continue its bullish push to the top of the wedge.

Charles-OW

Possible descending channel. On the weekly timeframe, price is to close to revisiting the support area of 1.63300. The last time price was there, it became bullish 17 weeks. Hopefully there’s enough buy orders at that level to continue the channel.

Charles-OW

Possible ascending triangle. Since GBPUSD and this pair are positively correlated, I’m expecting price to break out of the triangle to the upside and reach the next major resistance.

Charles-OW

After price broke out the falling wedge pattern to the upside, it also happened to create a cup & handle pattern. With 2 bullish confirmations, I’m expecting price to retest the cup & handle pattern before a continuation to the upside.

Charles-OW

By the looks of it, price looks like it will break the support area of 1782. If that happens, there’s a possibility that price retests the trend line that I draw on the daily timeframe, which happens to resemble a descending triangle.

Charles-OW

Price has broken through the resistance area of 1.26750. There’s a possibility price comes to retest the area once more before continuing its bullish momentum.

Charles-OW Updated 

On the daily timeframe, price is respecting the support area of 1.07000. With price respecting this area, it created a possible double bottom. If the double bottom holds, there’s a possibility of price being bullish until it reaches the last major resistance.