GBPUSD has broken the bearish structure formed after a head and shoulders pattern this week, and has begun a new uptrend.
Price has currently broken above previous neckline of head and shoulder pattern and stayed bullish.
This week, we can look to continue buying GBPUSD if price retraces and retest support.
Next strong levels of resistance can be seen at top of head and shoulders pattern, which coincides with an inside bar candle from previous bullish breakout.
Price has currently broken above previous neckline of head and shoulder pattern and stayed bullish.
This week, we can look to continue buying GBPUSD if price retraces and retest support.
Next strong levels of resistance can be seen at top of head and shoulders pattern, which coincides with an inside bar candle from previous bullish breakout.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.