Possibly change over from support to resistance around the 1.225 around could see it head to the 1.186 area towards next week.
We can see a rejection of price from the bearish wixs around the 1.223 @14:00 on the 21st and the 20 EMA indicator looks to be confirming a down trend.
Buy above 1.3191.
Stop loss at 1.3149.
Take profit at 1.3301.
Reason for the trading strategy (technically):
GBPUSD is testing its support at 1.3191 (61.8% Fibonacci extension x2, 61.8% & 50% Fibonacci retracement, horizontal overlap support) where price is expected to bounce to its resistance at 1.3301 (61.8% Fibonacci retracement, horizontal swing high...
The Pennant Pattern formed in a trend is a confirmation of trend continuation if it breaks to the up side, be alert if it does to jump in, i wound'nt risk more that 100ish pips. ST. just below the pennant.