The hourly chart shows the GBP/USD pair has created a pennant pattern – a bearish continuation pattern, meaning a downside break would open the doors to 1.30 (psychological level). An upside break would abort the immediate bearish outlook. Hourly chart Spot Rate: 1.3104 Daily High: 1.3116 Daily Low: 1.3097 Trend: Bearish after downside break pennant pattern Resistance R1: 1.3130 (5-day moving average) R2: 1.3213 (Thursday’s high) R3: 1.3241 (50-day moving average) Support S1: 1.3082 (Friday’s doji candle low) S2: 1.3049 (June 28 low) S3: 1.2957 (July 19 low) FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK: Time for the BoE to hike – Standard Chartered FX Street 5 years The hourly chart shows the GBP/USD pair has created a pennant pattern - a bearish continuation pattern, meaning a downside break would open the doors to 1.30 (psychological level). An upside break would abort the immediate bearish outlook. Hourly chart Spot Rate: 1.3104 Daily High: 1.3116 Daily Low: 1.3097 Trend: Bearish after downside break pennant pattern Resistance R1: 1.3130 (5-day moving average) R2: 1.3213 (Thursday's high) R3: 1.3241 (50-day moving average) Support S1: 1.3082 (Friday's doji candle low) S2: 1.3049 (June 28 low) S3: 1.2957 (July 19 low) Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
