GBP/USD: bearish "Pennant"

GBP/USD: bearish "Pennant"

21-6-2017-GBP-H4.png

The last "Rising Wedge" has been broken. In this case, the pair is likely going to achieve the nearest support at 1.2581 - 1.2514. If a pullback from this area happens, there'll be an opportunity to have an upward correction towards the closest resistance at 1.2581 - 1.2634.

21-6-2017-GBP-H1.png

Bears faced support at 1.2634. Also, there's a bearish "Pennant", so the market is likely going to reach the next support at 1.2581 - 1.2514. If we see a pullback from these levels, bulls will probably try to achieve resistance at 1.2581.

gbp

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