GBPUSD-Breaks the Head and Shoulders formation

FX:GBPUSD   British Pound / U.S. Dollar
GBPUSD - Intraday - We look to Sell at 1.2420 (stop at 1.2460)

Broken out of the Head and Shoulders formation to the downside. The formation has a measured move target of 1.2255. The 50% Fibonacci retracement is located at 1.2270 from 1.1958 to 1.2582. The overnight dip has been bought into and there is scope for further bullish pressure going into this morning. Reverse trend line resistance comes in at 1.2423. Bespoke resistance is located at 1.2420.
Our profit targets will be 1.2270 and 1.2200

Resistance: 1.2400 / 1.2420 / 1.2500
Support: 1.2270 / 1.2255 / 1.2196
FREE Telegram Group -
FREE Crypto Telegram Group -
FREE Trade Ideas -
FREE Education and Insights -
good analysis!
good spot man
Great analysis 🙌🏽🙏🏽
Home Stock Screener Forex Screener Crypto Screener Economic Calendar Shows How It Works Chart Features Pricing House Rules Moderators Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Help Center Refer a friend Feature Request Blog & News FAQ Wiki Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out