FX.co ★ dusty24 | GBP/USD

Hello everyone! GBPUSD dangerously broke the neckline of the Head and Shoulders pattern on the daily chart. This signals a possible, significant loss in the pound's value. However, a break of such a significant support line for GBPUSD usually does not happen without a pullback. I expect the price to return to the average values of 1.34 next week. The main argument for growth next week is the announcement of a ceasefire between the US and Iran. If the negotiations on the Strait of Hormuz return to a positive direction, GBPUSD will soar in anticipation of further inflation weakening. May data already provide the Bank of England with the opportunity to freeze the rate at the upcoming meeting. A possible change in the Prime Minister also carries a positive scenario for GBPUSD.