GBP/USD touched 1.32770 with reversal signs and got into a downtrend with targeting 1.29550. Also there is a possible Head and shoulder that breaking the neck line will be accelerate and give us a good momentum. Watch for reversal signs on right shoulder and crossing the neckline for short trade opportunity.
Possible long position if chart and candles show reversal signs .
As the Head and Shoulder Pattern that is a reversal sign got broken the neck line downward and if retest shows the last signal there is a possible chance of short position.
On daily time frame cup and handle chart pattern are formed and by considering the resistant line above the cup it may will go up.
Watch for sell position. Position : 1.17180 SL : 1.17533 TP : 1.16500
Purple zone drawn at weekly time frame and very reliable. breaking it down would be a little hard but a good confirmation for bearish.