Technical analysis of GBP/USD 04/07/2021

The GBP/USD currency pair at 4H is in an upward channel, forming an inverted head and shoulders pattern. The quotes are consolidating in the area (MA100) and the level of 1.3800. The technical analysis suggests a continuation of the upward movement with the forming of the pattern projection to the level of 1.3970. Cancellation of the growth option for the pair will be a decline and a breakdown of 1.3770 (the lower border of the channel and the “neckline”).

GBPUSD_STPH4

Created by Joshua Hayn

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