GBP/USD Forecast: broken bullish “Pennant”

gbp2We’ve got a bullish “Pennant”, which has been broken, so the price is still rising. It seems like the pair is ready to test the next resistance at 1.3290 – 1.3342. However, if we see a pullback from this area, there’ll be an opportunity to have a decline in the direction of another support at 1.3221 – 1.3182.

The price faced with resistance at 1.3256, so there’s a local consolidation. The 89 Moving Average is likely going to act as support during the day. If so, bulls will probably try to deliver a new local high afterwards.

GBP/USD H4

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GBP/USD H1

12-10-2017-GBP-H1.png

 

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