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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: two "Pennants" in a row

GBP/USD: two "Pennants" in a row

There’s a consolidation along a support at 1.3015. So, the price is likely going to reach a resistance at 1.3119 in the short term. Considering a possible pullback from this resistance, we should keep an eye on the next support at 1.2849 – 1.2795 as a bearish target.

GBP/USD: two "Pennants" in a row

The price faced a support at 1.2945, so we’ve got a “V-Bottom” pattern here, which led to the current flat. Therefore, bulls are likely going to reach a resistance at 1.3056 – 1.3071 shortly. At the same time, bears are strong enough to catch a support at 1.2945 – 1.2848 afterwards.

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