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.
Follow @TarantulaFX on twitter for latest market updates
Article by Admiral Markets
Source: GBP/USD double top in progress
Free Reports:
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
Get our Weekly Commitment of Traders Reports - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Admiral Markets is a leading online provider, offering trading with Forex and CFDs on stocks, indices, precious metals and energy.
