As many of you might recognize this pattern as a channel, I might add that it looks pretty much like a bear flag.

Therefore, in a few days time (or even tomorrow) price could make a 3rd and most-likely definitive approach towards the lower trend line of this formation.

I might want to add that shorter time frames indicate that the main move for tomorrow will most-likely be down.



The 60 min.  chart demonstrates a bear flag. Lower time frames indicate that prices will breach lower for tomorrow.

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Tags: #GBPUSD, Assets, Buck, Cable, Dollar, FX, Forex, GBPUSD, Oil, Prices, More…Trading, USD, USDx

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