Currently the GBPUSD has formed a head and shoulders pattern which 9/10 indicated that the price is ready to break the neckline and go short. A break below the neckline of 1.4062 and happily short the price.
However we are also in a a bearish channel which could potentially breakout which we also should look out for. A break out of this channel will indicate a potential change in direction and a rally back up to resistance.
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