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Short-term-king

The pound may have downward demand

Short
British Pound / U.S. Dollar (OANDA:GBPUSD)  
Short-term-king Updated   
OANDA:GBPUSD   British Pound / U.S. Dollar
Support and Resistance Trend Lines Head and Shoulders GBPUSD gbpusdforecast gbpusdsell gbpusdforex gbpusdshort gbpusdsignals gbpusdidea forexpositive forexmarket
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supportandresistance trendline headandshoulders gbpusd gbpusdforecast gbpusdsell gbpusdforex gbpusdshort gbpusdsignals gbpusdidea forexpositive forexmarket
After a sharp decline in the US market last Friday, GBP/USD has managed to stabilize above 1.2400 on Monday.The short-term technical side fails to provide directional clues, and may only have to wait for the currency pair to break through the consolidation channel,only then will there be a better continuity of behavior.

snapshot
According to the current market structure, it may be more difficult for GBP/USD to continue to rise, and the daily line is expected to form a head-and-shoulder technical pattern, which will exert pressure on the future market structure and limit the technical upward space of GBP/USD; Moreover, the technical repair of the daily line is far from being in place, so GBP/USD is still in demand for a decline.

snapshot
In the short term, pay attention to the resistance near 1.246 above.
Trade active:
Currently GBP/USD is still running below 1.246
Trade active:
GBP/USD is expected to build a daily line-level right shoulder pattern
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