GBP/USD Rally Fails at 20 Day Average
Chart Prepared by Jamie Saettele, CMT
-After breaking above the line that extends off of the 2014 and 2015 highs, GBPUSD has reversed sharply. The move completes a head and shoulders top that’s been underway since May. The implications are bearish. Watch for resistance from former support lines in the 1.5500-1.5550 zone.