GBP/USD has created an inverse head-and-shoulders pattern on the 4-hour chart. A convincing move above 1.2165 would confirm a bearish-to-bullish trend change. GBP/USD is flirting with the inverse head-and-shoulders neckline resistance of 1.2165 at press time. An inverse head-and-shoulders is a bullish reversal pattern and its success rate is high when it appears after a notable sell-off. That seems to be the case here. The pair fell from 1.3381 to 1.2014 in the five months to Aug. 12 before creating the inverse head-and-shoulders pattern. A convincing break above 1.2165 would confirm a bearish-to-bullish trend change and open the doors to 1.2316 (target as per the measured move method). 4-hour chart Trend: Bullish above 1.2165 Pivot points FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next President Trump’s team braces for a potential ‘moderate and short’ recession – Politico FX Street 4 years GBP/USD has created an inverse head-and-shoulders pattern on the 4-hour chart. A convincing move above 1.2165 would confirm a bearish-to-bullish trend change. GBP/USD is flirting with the inverse head-and-shoulders neckline resistance of 1.2165 at press time. An inverse head-and-shoulders is a bullish reversal pattern and its success rate is high when it appears after a notable sell-off. That seems to be the case here. The pair fell from 1.3381 to 1.2014 in the five months to Aug. 12 before creating the inverse head-and-shoulders pattern. A convincing break above 1.2165 would confirm a bearish-to-bullish trend change and open the doors to… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
