Forex GBP/USD Daily Video, July 09, 2020

[Sive Morten]

Good morning,

Following to EUR, let's update GBP analysis as it is also tending higher:

 

[soul rebel]

Greetings Sive
I see a potential reverse H&S pattern forming on cable hourly chart, with the head around 618 support, is our bullish view/context still in place?
thanks
Viresh

 

[Sive Morten]

Greetings Sive
I see a potential reverse H&S pattern forming on cable hourly chart, with the head around 618 support, is our bullish view/context still in place?
thanks
Viresh

It is by far, we've specified crucial levels. It stands above it but to be honest I do not like current drop. Keep an eye on a neckline at 4H chart around 1.25. Downside breakout will be negative.

 

[soul rebel]

It is by far, we've specified crucial levels. It stands above it but to be honest I do not like current drop. Keep an eye on a neckline at 4H chart around 1.25. Downside breakout will be negative.

Thanks mate