FX:GBPUSD British Pound/U.S. Dollar
Pattern - Inverse head and shoulder on 4-hour chart
- Pair’s retreat from Friday’s high of 1.3480 followed by a day end closing at 1.3173 suggests the corrective move from the low of 1.2789 has ended and choppy trading is likely to be seen today.
- A failure to sustain above 5-DMA of 1.3230 would open doors for a drop to 10-DMA of 1.3093.