GBP/USD double top in progress

August 18, 2016

By Admiral Markets

The GBP/USD has broken through resistance on the winds of Inverted Head and Shoulders pattern (green rectangle). POC comes within 1.3165-80 and we could ssee rejection towards 1.3102 and if it breaks then 1.3020 is next. POC (triple top, 61.8, bearish order block) should reject the price but if we see a 4h close above 1.3180 then 1.3238 is next. Pay attention to POC and levels as the price either rejects or breaks through POC.

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Article by Admiral Markets

Source: GBP/USD double top in progress

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