GBP/USD: 'Pennant' pattern pushing price higher

GBP/USD: 'Pennant' pattern pushing price higher

2-11-2018-GBP-H4.png

All the Moving Averages have been broken. It's likely that the pair is going to reach the next resistance at 1.3089 - 1.3103 during the day. A pullback from this area could be the beginning of a downward correction towards the nearest support at 1.3010 - 1.2989.

2-11-2018-GBP-H1.png

There's a 'Pennant' pattern, which turned out to be broken. In this case, we should watch the closest important resistance at 1.3073 - 1.3089 as an intraday target. The following pullback from these levels could lead to a bearish correction in the direction of 1.2985 - 1.2969.

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