GBP/USD: "Pennant" pushed price higher

GBP/USD: "Pennant" pushed price higher

21-7-2017-GBP-H4.png

The price faced support at 1.2926, so there's a "Thorn" pattern. In this case, the pair is likely going to reach the nearest resistance at 1.3032 - 1.3047. If a pullback from this area happens, bears will probably try to deliver a downward correction.

21-7-2017-GBP-H1.png

The last "Pennant" pattern led to another upward price movement. The main intraday target is the closest resistance area at 1.3032 - 1.3047. However, if we see a pullback from these levels, there'll be an option to have a decline in the direction of the nearest support at 1.2952.

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