Consolidating within a Pennant - GBP/USD (4-Hour) - RSI halfway

Paun British / Dolar A.S. (FOREXCOM:GBPUSD)

FOREXCOM:GBPUSD Paun British / Dolar A.S.

supportandresistance chartpattern pennant technicalanalysis coronavirus gbpusd neutral consolidation gbp usd

GBP/USD consolidating within a pennant (4 hour chart). RSI halfway through. The breakout will depend purely on fundamentals, such as USD strength and overall market sentiment/optimism around the COVID-19 and the global economy. Also pay attention earnings releases this week and any geopolitical tensions, will have an effect on the USD. Will have to wait and see what happens on the macro-level.

Note: Purely opinion - not professional investment advice.

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