GBP/USD: another bearish "Pennant"

GBP/USD: another bearish "Pennant"

16-8-2017-GBP-H4.png

The last "Flag" has been broken, so price plunged. It seems like bears are ready to move on, so we should keep an eye on the next support at 1.2830 - 1.2811 as an intraday target. Meanwhile, if a pullback from these levels happens little later on, there'll be an opportunity to have an upward price movement towards resistance at 1.2853 - 1.2892.

16-8-2017-GBP-H1.png

There's a "Pennant" pattern, so the pair is likely going to reach the closest support at 1.2830 - 1.2811 during the day. If we have a pullback from this area, bulls will have a green light to deliver an upward correction.

gbp

Similar

Latest news

GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...

gbp

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera