GBP/USD: bullish "Pennant" pattern

GBP/USD: bullish "Pennant" pattern

11-9-2017-GBP-H4.png

Bulls faced with resistance at 1.3223, so the price tested the nearest support at 1.3164. In this case, the pair is likely going to rise in the direction of the next resistance at 1.3249 - 1.3265, which means we could have a new local high pretty soon.

11-9-2017-GBP-H1.png

The price is consolidating between the levels 1.3223 - 1.3164. Also, there's a "Pennant" pattern, so the market is likely going to achieve the nearest resistance at 1.3249 - 1.3265 soon. If a pullback from these levels happens, we could have a decline towards the closest support at 1.3164 - 1.3149.

gbp

Similar

Popular

EUR/USD: "Double Top" pattern

Bulls faced with resistance at 1.2029, so the price is likely going to decline towards the nearest support area at 1.2003 - 1.1975...

promotions you can be interested in

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

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