GBPUSD - Price can leave pennant and rise to resistance level
Hi guys, this is my overview for GBPUSD, feel free to check it and write your feedback in comments👊
Some days ago price broke $1.2615 level and entered to resistance area, where some time traded and later bounced up.
After price rose to $1.2885 points, it started to decline inside the falling channel, which fell to $1.2615.
Later GBP broke $1.2615 level, after which made upward movement to $1.2710 points, and then made a strong downward impulse.
Price broke $1.2615 level one more time, exiting from channel and starting to trades inside pennant.
In this pattern, GBP declined below $1.2425 support level, but recently backed up and now trades close resistance line.
In my mind, British Pound can fall to support line and then bounce up to $1.2615 level, exiting from pennant.
If this post is useful to you, you can support me with like/boost and advice in comments❤️
Some days ago price broke $1.2615 level and entered to resistance area, where some time traded and later bounced up.
After price rose to $1.2885 points, it started to decline inside the falling channel, which fell to $1.2615.
Later GBP broke $1.2615 level, after which made upward movement to $1.2710 points, and then made a strong downward impulse.
Price broke $1.2615 level one more time, exiting from channel and starting to trades inside pennant.
In this pattern, GBP declined below $1.2425 support level, but recently backed up and now trades close resistance line.
In my mind, British Pound can fall to support line and then bounce up to $1.2615 level, exiting from pennant.
If this post is useful to you, you can support me with like/boost and advice in comments❤️