Chart pattern Inverse Head and Shoulder
GBPUSD was trading higher for 8 trading session and has jumped more than 500 pips on hopes of delay in Brexit deal. The pair has broken major neckline resistance 1.3240 and jumped till 1.32882. It is currently trading around 1.32835.
On the higher side, near term resistance is around 1.3300 and any break above will take the pair to next level 1.3350/1.3400 level.
The near term support is around 1.3230 and any violation below targets 1.3180/1.31400/1.3090. Any violation below 1.29685 low made on Feb 22nd confirms bearish continuation.
It is good to buy on dips around 1.3260-625 with SL around 1.3210 for the TP of 1.3400.
