GBP/USD: 'Pennant' pushed price lower
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The market has been declining since the last 'Double Top' pattern formed. The main intraday target is the next support at 1.2753 - 1.2728. A pullback from this area could be a starting point for an upward correction.
There's a consolidation, which is taking place between the levels 1.2784 - 1.2828. Also, we've got a 'Pennant' pattern, so the pair is going to test another support at 1.2784 - 1.2753. Meanwhile, if we have a pullback from this area little later on, bulls will probably try to reach the nearest resistance at 1.2844.