Resistance: 1.6116 strong/1.6149 moderate/1.6185 minor

Support: 1.6080 moderate/1.6047 minor/1.6011 minor

Market bias for GBPUSD is bearish with prices under a strong resistance level at 1.6116 the Pivot Point. Given that Bullish Harami is a low level bullish reversal pattern it is necessary to look for a close above the strong resistance first before taking action. Immediate objective when taking a buy should be a push for 1.6149 break of which opens 1.6185, a stop loss should be placed below the patterns low.

Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices