Search
Products
Community
Markets
News
Brokers
More
EN
Get started
Community
/
Ideas
/
GBPUSD - Price can leave pennant and rise to resistance level
British Pound / U.S. Dollar
Long
GBPUSD - Price can leave pennant and rise to resistance level
By WalterMoon
Follow
Follow
Apr 25
1
Cheer
Cheer
1
1
Apr 25
Hi guys, this is my overview for GBPUSD, feel free to check it and write your feedback in commentsđź‘Š
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❤️
britishpound
GBP
GBPUSD
Parallel Channel
Pennant
Trend Analysis
USD
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the
Terms of Use
.