Lenguito_Forex

GBPUSD - PENNANT FORMATION?

FX:GBPUSD   British Pound / U.S. Dollar
I am currently watching the GBPUSD as it looks like it is forming a pennant .

Price looks like it is consolidating, this is also confirmed with the moving averages flattening out and the tight range we are in.

However nothing consolidates for long, we should anticipate a trend type move. this is most likely to happen when price breaks the pennant formation (hopefully).

* * Fundamentals * *
BIG NEWS on Friday from USD in regards to Non-farm payroll, we also have Bank of England talking tomorrow... so trade with caution!

-L

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