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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: flat in the range of a "Pennant" pattern

GBP/USD: flat in the range of a "Pennant" pattern

There's a flat in progress between a resistance by the 55 Moving Average and a support at 1.4374. Considering a “Wedge” and a “V-Top”, the market is likely going to falling down towards the upper side of the nearest support zone at 1.4343 – 1.4305. If a pullback from this area happens, there’ll be an opportunity to see an upward correction.

GBP/USD: flat in the range of a "Pennant" pattern

We’ve got a possible “Pennant” pattern, so the pair is likely going to test its upper side. In case of a pullback from there, bears will probably try to deliver a new low afterwards. So, we should put an attention to the nearest trendline as the next probable bearish goal.

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