GBP/USD: 'Pennant' pattern pushing price higher
Read the article on FBS website
All the Moving Averages have been broken. It's likely that the pair is going to reach the next resistance at 1.3089 - 1.3103 during the day. A pullback from this area could be the beginning of a downward correction towards the nearest support at 1.3010 - 1.2989.
There's a 'Pennant' pattern, which turned out to be broken. In this case, we should watch the closest important resistance at 1.3073 - 1.3089 as an intraday target. The following pullback from these levels could lead to a bearish correction in the direction of 1.2985 - 1.2969.