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    GBP/USD: "Triangle" is going to be broken soon

    GBP/USD: "Triangle" is going to be broken soon

    The pair has found a support at 1.3226, which led to a local upward price movement. Nevertheless, we’ve got a “Pennant” pattern, so the market is likely going to decline towards a support area between the levels 1.3116 – 1.3015. If a pullback from here happens, bulls will probably try to catch a resistance at 1.3483 – 1.3614.

    GBP/USD: "Triangle" is going to be broken soon

    The price has been moving in a range of the possible “Triangle” pattern. Its lower side is likely going to be broken soon, so we should keep an eye on the next support at 1.3116 – 1.3015 as a possible bearish target. Considering a probable pullback from this area, a resistance at 1.3483 – 1.3614 could be reached later on.

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