Trade Idea
On the 1-hour time frame, we can see that GBPUSD has spent the past couple of trading days in a consolidation. Because this follows after a strong rally, a bullish pennant seems to have formed. This is a bullish continuation indicator which means that an upside break, around the highs of April 27 at 1.2452, could mean a potential rally to the highs of April 14 at 1.2646.
On the 1-hour time frame, we can see that GBPUSD has spent the past couple of trading days in a consolidation. Because this follows after a strong rally, a bullish pennant seems to have formed. This is a bullish continuation indicator which means that an upside break, around the highs of April 27 at 1.2452, could mean a potential rally to the highs of April 14 at 1.2646.