Wedge Falling (bullish)

CURRENT CONFIDENCE = 60%
TARGET (EXIT) PRICE = 0.104489 GBP
BREAKOUT (ENTRY) PRICE = 0.103454 GBP
DISTANCE TO TARGET PRICE = 0.60% (6.2 pips)
CONFIRMED ON Jun 24, 08:16 AM (UTC)
WITH CONFIDENCE LEVEl = 68%

Tickeron AI shows that the Falling Wedge pattern forms when the price of a pair appears to be spiraling downward, and two down-­sloping lines are created with the price hitting lower lows (1, 3, 5) and lower highs (2, 4). The two pattern lines intersect to form a narrow triangle. Unlike Descending Triangle patterns, however, both lines need to have a distinct downward slope, with the top line having a steeper decline.

This pattern is commonly associated with directionless markets, since the contraction (narrowing) of the market range signals that neither bulls nor bears are in control. However, there is a distinct possibility that market participants will either pour in or sell out, and the price can move up or down with big volumes (leading up to the breakout).