GBP/USD: 'Pennant' pattern has been broken

GBP/USD: 'Pennant' pattern has been broken


The main trend is still bullish. Also, the 55 Moving Average is acting as support. Nevertheless, the market is likely going to test the next support at 1.4144 - 1.4119, which could be a starting point for a bullish price movement.


The last 'Pennant' pattern has been broken. So, the pair is likely going to test the closest support at 1.4144 - 1.4119 in the coming hours. Meanwhile, if a pullback from this area happens a little later on, bulls will probably try to reach the nearest resistance at 1.4230 - 1.4243.



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