| GBP/USD - Flag Pattern within Strong Bearishness Posted: 25 May 2010 07:25 AM PDT  Price action on GBP/USD, a daily chart of which is shown, has consolidated in a flag-like (inverted) pattern after a period of steep bearishness within the past several weeks. This occurs within the context of an overall downtrend for the pair. The upper bounds of the inverted flag consolidation reside around the key 1.4500 resistance price region, while the lower bounds of the flag reside around the 1.4230 support price region. For more technical analysis on this currency pair, please click here for Tuesday’s (5/25/2010) Chart of the Day.
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