FX.co ★ GBPUSD M5: Bearish Flag

GBPUSD M5: Bearish Flag

Bearish FlagThe Bearish Flag pattern has been formed on GBPUSD at M5. The lower boundary of the pattern is located at 1.1246/1.1254 while the upper boundary lies at 1.1252/1.1260. The projection of the flagpole is 22 points. This formation signals that the downward trend is most likely to continue. Therefore, if the level of 1.1246 is broken, the price will move further downwards.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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