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GBP/USD – Downside Resumption is Possible

GBP/USD – Downside Resumption is Possible

2016-11-22 20:01:00
Jamie Saettele, CMT, Sr. Technical Strategist
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GBP/USD – Downside Resumption is Possible

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The specter of a head and shoulders top since 11/4 indicates potential for bearish resumption. Bear in mind that the noted pattern wouldn’t complete until a drop under 1.2300, in which case focus would shift to the former trendline resistance and 10/25 low at 1.2082.

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