GBPUSD- Looks to be forming a bullish reverse Head and Shoulders

FX:GBPUSD   British Pound / U.S. Dollar

GBPUSD - Intraday - We look to Buy at 1.2632 (stop at 1.2587)

Selling pressure from 1.2725 resulted in all the initial daily gains being overturned. A bullish reverse Head and Shoulders is forming. Expect trading to remain mixed and volatile. We have a 61.8% Fibonacci pullback level of 1.2612 from 1.2506 to 1.2784. Trend line support is located at 1.2596. Bespoke support is located at 1.2632.

Our profit targets will be 1.2798 and 1.2850

Resistance: 1.2700 / 1.2798 / 1.2815
Support: 1.2644 / 1.2632 / 1.2612
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