GBP/USD Technical Analysis: Inverted Head & Shoulders Pattern
By Deya Hroob This trade idea is based on daily chart. GBP/USD has formed a well-known Inverted Head & Shoulders Pattern. Last Friday, the neckline (resistance) was broken. Usually, the price returns to the broken resistance. Hence, I will trade the retest. For the targets I always search for Fibonacci Levels. I will use two different Fibonacci levels taken from different points . So the targets are 1.3080 , 1.3180 You should ignore this trade set up if the price breaks below the neckline.