I'm getting ready for the week ahead, make sure to keep this on your watch list! Here we have GBP/USD on a Daily chart with an excellent buying opportunity.
As you can see we have been trading within a range since early 2015, creating multiple layers of critical support and resistance. We are now retesting a Daily resistance level for the third time in just over one month, forming an inverted head and shoulders pattern which I posted last month... The analysis can be viewed in the related ideas section below.
Going long to potentially create a new lower high? I'll be looking for additional analysis on the shorter time frames for an entry point, as always feel free to share any complimentary ideas and leave your opinion on this pair!