GBP/USD - Head & Shoulder formation or Break of Support?

Short

British Pound / U.S. Dollar (FX:GBPUSD)

FX:GBPUSD British Pound / U.S. Dollar

trendanalysis headandshoulders oscillator

GBP/USD is currently experiencing RSI Divergence which signals a potential change of trend. Price is also forming a head & shoulders pattern. Since bearish divergence is present, we will be looking to short break of support even if head & shoulder pattern is not completed and expecting price to continue moving down!

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.