GBP/USD now forming inverse head and shoulder

Hourly chart

GBPUSD H1 (04-12-2016 2354).png

Now we can see an inverse head and shoulder being formed on the hourly chart. Longs can be build along the rising trend line support.

Unless 1.42 handle prevails as a support, the odds of the pair moving towards inverse H&S neckline level of 1.4350 are high.

 

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