GBPUSD - Head and Shoulders Formation dominates Cable!
GBPUSD - Intraday - We look to Sell at 1.2495 (stop at 1.2550)
Posted a head & shoulders formation. Although an initial rally was posted, sellers emerged and follow through bearish momentum resulted in all the previous day's gains being overturned. Posted a Bearish Outside candle on the Daily chart. Expect trading to remain mixed and volatile. Intraday signals are mildly bearish. We look for a temporary move lower.
Our profit targets will be 1.2330 and 1.2250
Resistance: 1.2450 / 1.2500 / 1.2545
Support: 1.2325 / 1.2240 / 1.2200
Posted a head & shoulders formation. Although an initial rally was posted, sellers emerged and follow through bearish momentum resulted in all the previous day's gains being overturned. Posted a Bearish Outside candle on the Daily chart. Expect trading to remain mixed and volatile. Intraday signals are mildly bearish. We look for a temporary move lower.
Our profit targets will be 1.2330 and 1.2250
Resistance: 1.2450 / 1.2500 / 1.2545
Support: 1.2325 / 1.2240 / 1.2200
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