GBP/USD double top in progress

Thursday, 18/08/2016 | 18:57 GMT-0

Disclaimer

The GBP/USD has broken through resistance on the winds of Inverted Head and Shoulders pattern (green rectangle). POC comes within 1.3165-80 and we could see rejection towards 1.3102 and if it breaks then 1.3020 is next. POC (double top, 61.8, bearish order block) should reject the price but if we see a 4h close above 1.3180 then 1.3238 is next. Pay attention to POC and levels as the price either rejects or breaks through POC.
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Source: https://www.admiralmarkets.com/analytics/technical-analysis/

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