Currency pair pound dollar GBP USD finished the current trading week down, but now on the daily chart, the pound has the potential to start growing as part of an inverted head and shoulders pattern. The purpose of working out such a model in the chart GBP USD is the area above the level of 1.40.
GBP USD Forecast Pound Sterling 07/25/2016 — 07/29/2016
Cancellation option will drop in prices of the pound against the US dollar below the level of the right shoulder of 1.28, which indicates the abolition of options mining bullish head and shoulders patterns, and point to a continuation of falling of quotations GBP USD to below 1.26. Confirming signal in favor of a trend reversal on the pound will break the level of the neckline.
GBP USD Forecast Pound Sterling 07/25/2016 — 07/29/2016 involves attempt to increase within start mining bullish head and shoulders pattern, the cancellation option may be a strong drop in prices GBP USD and penetration level of 1.26 closing price.
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