GBPSUD Potential Head and Shoulder Pattern. Now price is likely to form a potential right shoulder, Also Pairs Hit multi month low support level 1.2455.
Today Morning, UK GDP monthly release showed that the economy returned to expansion in May, coming in at +0.3% versus -0.4% previous and rest of all fundamental data showing mix.
Pound under pressure due to Brexit uncertainty. GBP/USD remains on the downside for 1.2391 low. Firm break there will resume larger down trend. On the upside, above 1.2539 minor resistance But near term outlook will stay bearish as long as 1.2783 resistance holds.
Short term correction expected upside towards 1.2540 resistance and 1.2610.
S-1= 1.2480
S-2=1.2455
S-3=1.2391
Green line resistance:
R-1=1.2530
R-1=1.2610
R-3=1.2740
http://prntscr.com/od4fk3
Today Morning, UK GDP monthly release showed that the economy returned to expansion in May, coming in at +0.3% versus -0.4% previous and rest of all fundamental data showing mix.
Pound under pressure due to Brexit uncertainty. GBP/USD remains on the downside for 1.2391 low. Firm break there will resume larger down trend. On the upside, above 1.2539 minor resistance But near term outlook will stay bearish as long as 1.2783 resistance holds.
Short term correction expected upside towards 1.2540 resistance and 1.2610.
S-1= 1.2480
S-2=1.2455
S-3=1.2391
Green line resistance:
R-1=1.2530
R-1=1.2610
R-3=1.2740
http://prntscr.com/od4fk3