Do the pro’s here agree with this being a bullish flag pattern?
Yes, I see a recent bullish flag pattern. But looking back further I see consolidation from the end of the steep downtrend, which might offer opportunity for a future break-out trade in either bullish or bearish direction. Right now I would have no presumption that one is more likely than the other.
The lines or channel you have drawn are unhelpful.
Thank you for the confimation. I understand the chart is not helpful for trading. I just wanted get clarity on the pattern itself. Practicing certain parts of trading 
My essential resource for confirming candlestck patterns is thepatternsite.com.
Bear in mind almost none of the charts and statistics there refer to intra-day trading or forex trading, but the principles are totally valid.
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Great info. Thank you. Those busted patterns are interesting.
There’s prob a technical definition written down somewhere but I personally wouldn’t trade that as a bullish flag. Goes on for too many sessions compared to the preceeding flagpole. I suspect its just a period of low volume trading where not much is happening.
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Interesting. Such a low volume pattern would be of lower probability. This is logical.
Great thinking.
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I find the only dependable flags are where there’s been rapid price movement with high volume prior to the flag. But it’s always worth looking for one - the flag is one of the very few candle-stick patterns that I find reliable for me. I also will trade a really obvious shooting star or an obvious saucer/cup bottom.
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Seeking for the logic behind such a pattern is something that not many are trying. 
Candle patterns are how retailers get lured into the market and stopped out.
The pattern in itself is meaningless. That could also be a bearish Harmonic continuation pattern setting up. Context is everything.
As it happens, I was long the GBPUSD at that point and still am long, but my trade parameters could not be described from that chart, and shock horror, look what happened to the ‘bull flag’ traders, only for the market to jack knife back up…
…also, as other’s have said, a flag would ideally be in the prevailing direction of the trend, but even then, the chances that the bottom of the flag (where everyone’s SL are) are also a meaningful well resolved low are generally quite slim, and more often than not, the text book pattern will simply lure retailers in, to provide liquidity for the bigger funds.
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I would see this as a consolidation area that would respond to actions taken by the BOE and UK government. Until the UK gets it financial act together, I would only consider a selling trade.
But as I could never profit from trading Cables surfing waves, ignore my info.