Resistance: 1.6071 moderate / 1.6097 minor / 1.6141 minor
Support: 1.6028 strong / 1.6001 moderate / 1.5958 minor
We have a bullish bias in GBPUSD Hourly charts with prices just under a moderate resistance level. Candlesticks show a high level bearish reversal pattern Three Inside Down. Consider shorts at market for 1.6028 break of which should see us easing off to 1.6001. Stops should be placed above 1.6071 or the patterns high.
For pattern explanation and visual identification rules, click here.
Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To aLook At Prices