GBP/USD- At make or break level of 1.4520

FX:GBPUSD   British Pound / U.S. Dollar
Cable rebounded from 1.4303 to test 1.4480 levels as expected. The pair managed to cut through offers around 1.4480-1.45 and jump to a high of 1.4537 before retreating slightly to 1.4516 levels.

Outlook - Inverse head and shoulder on hourly chart

  • The neckline level is 1.4520.
  • In light of falling brexit fears and latest upbeat polls - Latest IPSOS Mori #Brexit poll sees #Remain leading with 55% - An hourly closing above 1.4520 appears likely.
  • However, note that inverse head and shoulder breakouts are more effective when the appear at the bottom of a major downtrend.
  • Hence, a failure to take out/sustain above 1.4520 could trigger a drop that may end up pushing the pair below 1.4332.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out