GBP/USD: 'Pennant' pushed the price higher

GBP/USD: 'Pennant' pushed the price higher


The pair is consolidating under the Moving Averages. It's likely that the price is going to test the next resistance at 1.3216. If we have a pullback from this level, there'll be a moment for a decline towards the nearest support at 1.3143 - 1.3101.


The last 'Pennant' pushed the price higher. Meanwhile, it's likely to have a correction in the short term. So, we should keep an eye on the nearest support at 1.3127 as a possible starting 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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