Movement between broken triangular and resistance

GBPUSD broke the upper limit of the triangle in past week in which was moving from October 2016. Later that day price reached 1.2900 resistance and it was the moment when sideways movement started. Today consolidation took form of a flag formation. According to Technical Analysis rules, in most cases this formation signals continuation of the earlier movement.

GBPUSD H4
GBPUSD H4

Opportunity to break key resistance 1.2900

The side movement that we currently observe under key resistance of 1.2900 is a ideal scenario for the demand side. Such consolidation under resistance will significantly strengthen the chances of demand for a breakthrough of this resistance.

It seems therefore that now the main scenario for GBPUSD is breaking up the flag and attempting to break 1.2900 resistance. However, if the market decides oposite and the flag will broken down, then the reflection should appear at the upper limit of the triangle.

GBPUSD D1
GBPUSD D1
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