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Intraday commentary on patterns

GBPUSD Bullish Harami Hourly Chart

Fri, Jul 27 2012, 09:02 GMT
by Mark De La Paz | FX Instructor

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Resistance: 1.5782 moderate/1.5879 minor/1.6036 minor

Support: 1.5625 strong/1.5528 moderate/1.5371 minor

Overall bias in GBPUSD is bullish with the Bullish Harami just above a strong support level. Though a low level bullish reversal candlestick pattern, given the strong support consider taking a buy with 1.5782 as the immediate target, possibly further on to 1.5879. A stop loss should be placed below 1.5625, the Pivot Point. The prudent course of action is to look for a confirming big white candlestick first before buying.

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

Published On Fri, Jul 27 2012, 09:03 GMT Previous entries

Mark De La Paz

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Mark's interest in financial markets has been an ongoing affair, starting from college, where he dabbled in the local equity markets with his college fund. Finishing his BA in Public Administration, Mark remained passionate about trading, and started out working in the niche brokerage business among bank traders.

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Intraday commentary on patterns

GBPUSD Bullish Harami Hourly Chart

Daily Live Trading Room

Mark De La Paz

Also Read

Legal disclaimer and risk disclosure

Tracing the Debt Crisis

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