GBP/USD: developing "Pennant" pattern

GBP/USD: developing "Pennant" pattern


There's a "Double Top", which has been confirmed, so the price is consolidating. The main intraday target is the nearest support at 1.3444. If we have a pullback from this level, there'll be an option to have a bullish price movement towards the closest resistance at 1.3652 - 1.3681.


The price is consolidating between the levels 1.3479 - 1.3532. Also, there's a developing "Pennant" pattern. In this case, bears are likely going to achieve the 55 Moving Average, which could be a departure point for another bullish rally.



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...


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