GBPUSD – looking to re-test Inv. H&S neckline now
Resistance – 1.4392, 1.4436, 1.45
Support – 1.4350, 1.43, 1.4252
GBP traded weak as expected in Europe, but bears failed to keep it below 1.4320, with prices now breaking higher from triangle formation on a 5- minute chart.
A re-test of inverse head and shoulder neckline at 1.4392 appears likely. A violation there would expose 1.4438 levels.
On the lower side, only a break below 1.4320 would signal intraday bullish invalidation.
Support – 1.4350, 1.43, 1.4252
GBP traded weak as expected in Europe, but bears failed to keep it below 1.4320, with prices now breaking higher from triangle formation on a 5- minute chart.
A re-test of inverse head and shoulder neckline at 1.4392 appears likely. A violation there would expose 1.4438 levels.
On the lower side, only a break below 1.4320 would signal intraday bullish invalidation.
