GBP/USD: bulls going to climb even higher

The last “Pennant” pattern led to a new high. So, the market is likely going to test the nearest resistance at 1.2945 – 1.2995 in the short term. However, if bulls be stopped here, there’ll be an opportunity to have a bearish correction towards a support at 1.2865 – 1.2816.

The price is consolidating under a resistance at 1.2945. It’s likely that bears are going to test the nearest support at 1.2900 – 1.2865. If a pullback from this area happens, there’ll be an option to have another bullish rally in the direction of the next resistance at 1.2935 – 1.2952.

gbp

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