FX.co ★ GBPUSD H1: Inverse Head and Shoulder

According to the chart of H1, GBPUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.2298 while the median line of the Neck is set at 1.2391/1.2360. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of GBPUSD will go towards 1.2400.