FX.co ★ GBPUSD M5: Bearish pennant

GBPUSD M5: Bearish pennant

Bearish pennantThe Bearish pennant pattern has formed on the GBPUSD M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 1.1256; the projection of the flagpole height is equal to 41 pips. In case the price breaks out the pattern’s bottom of 1.1256, the downtrend is expected to continue for further level 1.1241.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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