GBP/USD forms a “head and shoulders” pattern

A GBP/USD pair retains the potential to decline in the formation of the “head and shoulders”  pattern after a three-day movement in the flat. The formation of this pattern can be traced on the H4 timeframe.

Deals for sale on the work out of this pattern should be considered in the area of 1.3000 and 1.2980.

Resistance is located at the levels: 1.3040 and 1.3060. Goals and support levels are located at the levels: 1.2930 and 1.2900. Fixing the pair GBP/USD above 1.3050 cancels downward expectations.

Read also: “The trade war and its prospects”

Hanzenko Anton

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