Is the GBP/USD Chart about to Break Out?
Posted: Wed Nov 30, 2016 10:01 am
GBP/USD – inside bar pin bar combo on sterling/dollar could lead to higher prices
The GBP/USD has shown obvious strength on the daily chart over the last month, pushing up through 1.2335 and then holding above that level on subsequent re-tests. Over the last few weeks, the daily chart has remained buoyant and shown resilience after each attempt by sellers to push prices lower.
On the daily time-frame chart, we can now see an inside pin bar combo signal (an inside bar pattern where the inside bar is also a pin) and it’s logical to assume price could move higher from this ... (read more)