GBP/USD: 'Pennant' pattern has been broken

GBP/USD: 'Pennant' pattern has been broken

19-4-2018-GBP-H4.png

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.

19-4-2018-GBP-H1.png

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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