Currency pair Pound Dollar GBP / USD

Currency pair Pound / Dollar GBP / USD completes the trading week near the 1.2722 area. The pair continues to move as part of the correction and the formation of a large “Head and Shoulders” reversal pattern. Moving averages indicate a bearish trend . Prices have broken the areas between the signal lines upward, which indicates pressure from buyers and a potential continuation of the rise in the British Pound against the US Dollar at current levels. At this point, we should expect an attempt to continue the development of an upward correction and test the resistance area near the level of 1.2765. Further, the rebound and the beginning of the fall in the Pound / Dollar quotes to the area below the level of 1.1725.