GBP/USD: resistance waiting for bulls
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The last “Pennant” was broken, but bulls haven’t moved higher yet. So, the price is consolidating under a resistance at 1.2865. Nevertheless, the market is likely going to achieve the next resistance at 1.2911 – 1.2945. If a pullback from these levels be on the table, there’ll be a chance to have a bearish correction.
The price is consolidating near the broken “Pennant”. The main intraday target is the nearest resistance at 1.2911, which could be a departure point for a downward correction towards the 89 Moving Average.