GBP/USD: 'Pennant' pushed the price higher

GBP/USD: 'Pennant' pushed the price higher

25-7-2018-GBP-H4.png

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.

25-7-2018-GBP-H1.png

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.

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GBP/USD: levels to trade

GBP/USD has been consolidating between 1.30 and 1.2770 for the past month. The pair met resistance at the resistance line connecting October and November highs.

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