British Pound / U.S. Dollar

GBP/USD - inverse head and shoulder breakout on 4-hr chart

By TipTVFinance

Now we have almost confirmed an inverse head and shoulder breakout on the 4-hr chart, courtesy of Bank of England's decision to keep interest rates unchanged.

This goes well with the head and shoulder breakout seen on the Gold/GBP 4-hour chart.

Both the chart in a way add credence to each other and confirm the GBP is likely to move higher in the short-term.

A daily close today in Cable above 1.3315 (23.6% fibo retracement) would open levels up to 38.2% Fibo.

Also on:

Related publications

Gold/GBP breaks head and shoulder after BOE status quo decision

by TipTVFinance

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.