$GBP/USD, The Chart Offers a BUNCH of Opportunities!

Let's consider the 1D GBP/USD chart. We can see that the price, probably, is forming an inverse H&S pattern. First of all, I want to notice that the price has rejected from a $1.275 level which tells us about a downward mood. Therefore, at the moment we are in a good zone for opening SHORT position.

Next, let's consider support levels. We have two ones there: first support is located at $1.256 (less strong), and the second one is located at $1.238 (the strongest local support), so in case you don't like SHORTing, you can consider buying at these levels. The first and the most important target of an upward movement will be the resistance at $1.295.

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