FX.co ★ #GOOG M5: Bearish pennant

The Bearish pennant pattern has formed on the #GOOG M5 chart. It signals potential continuation of the existing trend. Specifications: the pattern’s bottom has the coordinate of 169.39; the projection of the flagpole height is equal to 388 pips. In case the price breaks out the pattern’s bottom of 169.39, the downtrend is expected to continue for further level 169.24.