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Mncotshe

GBPAUD Potential Pennant formation

Short
British Pound / Australian Dollar (OANDA:GBPAUD)  
Mncotshe Updated   
OANDA:GBPAUD   British Pound / Australian Dollar
Chart Patterns Pennant Beyond Technical Analysis triangularpattern Technical Analysis
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chartpattern pennant beyondta triangularpattern technicalanalysis
Usually this pennant pattern means price action can go either direction. Meaning it requires patience and to wait for a break (aggressive) or break and retest (conservative) before entering.

Given the macroeconomic state of Britain with bearish sentiment regarding the Brexit deal and the formation of this Pennant triangle pattern my bet is on it to eventually break SHORT.

But lets wait and watch if the market agrees!
Comment:
Price action has broken top side. This nullifies previous bearish bias.
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