GBP/USD: bearish "Pennant"

GBP/USD: bearish "Pennant"

14-2-2018-GBP-H4.png

There's a bearish "Pennant", so the pair is likely going to achieve the nearest support at 1.3741. Meanwhile, if a pullback from this level happens afterwards, bulls will probably try to reach the next resistance at 1.3895 - 1.3944.

14-2-2018-GBP-H1.png

The market is consolidating between the Moving Averages. The main intraday target is the closest support at 1.3763 - 1.3741. This area could be a departure point for a bullish price movement in the direction of another resistance at 1.3895 - 1.3944.

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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...

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