Brannagan has become a key member of the Liverpool Under 21 squad this season.
The midfielder has now been handed his first professional contract at Anfield.
Pelosi joined Liverpool in 2011 and has been hailed as a star of the future at Anfield.
The youngster is currently recovering from a broken leg.
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Liverpool have unveiled their new home kit for next season, sticking with the hugely popular retro styling of the current shirt.
The reputation of the Premier League means it is the most popular and one of the most watched leagues in the world.