GBP is trading very weak and failed to stabilize above 1.2795. Trading remained below the mentioned level most of the time, weakening the upside potential and showing that the pair does not have bullish momentum.
The pair failed to exceed resistance level at 1.1126 with the beginning of trading day
We mentioned yesterday about the importance of resistance level at 1.0935
The pair managed to break the support level of sideways channel at 1.3650,
Currently the pair has managed to form head &shoulders pattern after breaking through the neck line
The pair has fallen with the beginning of trading day and managed to break down the bottom
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