497
I've been trading for 15 years, so I have a lot of things to share. I use the classic technical analysis, which is one of the most powerful tool for any trader.

GBP/USD: two "Pennants" in a row

GBP/USD: two "Pennants" in a row

The last upward trend has been broken, so the price is likely going to reach the nearest support at the downtrend line. If a pullback from this area happens, there’ll be an opportunity to have a bullish correction towards a resistance at 1.2795.

GBP/USD: two "Pennants" in a row

We’ve got a “Pennant” pattern, so bears are likely going to get a support on the channel’s lower side. At the same time, if we see a pullback from here, bulls will probably try to approach the nearest resistance at 1.2773 – 1.2795. 

Scroll to top