GBP/USD – Inverse head and shoulder ahead of UK labor data release

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 20, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    GBP/USD breached falling channel seen on the daily chart in the NY session yesterday and tested supply around the inverse head and shoulder neckline hurdle. Prices clocked a high of 1.4419 before bullish move ran out of steam. The bird is losing height in early Europe today; now trading around 1.4350 levels. Points to be noted heading into data release GBP bulls have been buoyed by latest Brexit polls showing ‘remain’ vote gaining an edge over ‘exit’ vote. UK TNS EU poll released today showed

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