GBP/USD - inverse head and shoulder breakout on 4-hr chart

FX:GBPUSD   British Pound / U.S. Dollar
  • Now we have almost confirmed an inverse head and shoulder breakout on the 4-hr chart, courtesy of Bank of England's decision to keep interest rates unchanged.
  • Both the chart in a way add credence to each other and confirm the GBP is likely to move higher in the short-term.
  • A daily close today in Cable above 1.3315 (23.6% fibo retracement) would open levels up to 38.2% Fibo.
Looks good, thanks
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