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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: "Pennant" as a sign to a new high

Sergey Logachev

GBP/USD: "Pennant" as a sign to a new high

The price has faced a resistance at 1.4513, so currently we've got a local flat under this level. It's likely to see even more bullish pressure that is why we should bearing in mind the next resistance at 1.4569, which is reinforced by the downtrend upper line. If buyers be stopped here, it’ll be an opportunity to have at least a local downward correction.

GBP/USD: "Pennant" as a sign to a new high

There’s a possible “Pennant” in progress under the nearest resistance at 1.4513. Therefore, the market is likely going to deliver a new high soon. The main target is a resistance at 1.4534 – 1.4569, which is strong enough to stop bullish feast of life.

GBP
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