GBP/USD: bears going to deliver a new low
12/27/2016
The price is consolidating above a support at 1.2227, so bears are likely going to test this level in the short term. If we have a pullback from this level, there’ll be an opportunity to see an upward correction in the direction of the nearest resistance at 1.2309 – 1.2358.
There’s a “Pennant”, so the price is testing the lower side of this pattern. Nevertheless, the pair is likely going to achieve a support at 1.2227 – 1.2205 shortly. If bears be stopped here, bulls will probably try to test a resistance at 1.2270 – 1.2309.
More:
https://new.fxbazooka.com/analytics/11861