WalterMoon

GBPUSD - Price can leave pennant and rise to resistance level

Long
FX:GBPUSD   British Pound / U.S. Dollar
Hi guys, this is my overview for GBPUSD, feel free to check it and write your feedback in comments👊

A not long time ago price bounced from $1.2545 point to support line, which is located below support area.

But soon British Pound rolled up and made strong upward impulse higher of resistance area, which coincided with resistance level.

Thereby price broke two levels, but later, it made correction below resistance level and then bounced up again to resistance line.

Also, price formed pennant pattern, in which British Pound declined to current support level, which coincide with support line.

Recently price bounced up and now trades very close resistance line, and I think British Pound can fall a little.

Then price can bounce up to 1.2775 resistance level, exiting from pennant.

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