GBPUSD – Bear Pennant Puts Negative Bias on Prices

Short

British Pound / U.S. Dollar (FX_IDC:GBPUSD)

FX_IDC:GBPUSD British Pound / U.S. Dollar

pennant poundsterling pounddollar gbpusd gbpusdshort

GBP/USD forms a Bear Pennant, putting prices at risk of resuming the former downward trend from mid-June (flag pole). A break below support puts the May and June lows in danger, with further losses possible.

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