GBP/USD Bear Channel Remains Intact
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-A breakout from a 1 month inverse head and shoulders pattern is valid above today’s low (breakout day) but GBPUSD does face channel resistance at this level. The reversal pattern’s objective is 1.5494, which is in line with the December low at 1.5485. Weakness below 1.5163 would indicate a failed reversal pattern.
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