Wednesday, October 17, 2012

GBP/USD 4H Chart Channel Up - October 17, 2012

GBP/USD 4H Chart Channel Up - October 17, 2012


GBP/USD has formed a Channel Up pattern on 4H chart. The pattern has 43% quality and 89% magnitude in the 324-bar period.
The pattern started when the pair dipped from pattern's resistance at 1.5768; currently it is trading at 1.6170. Technical indicators on aggregate point at appreciation of the pair on 4H and 1W horizons suggesting pair will continue to appreciate. Read more