The GBP/USD exactly behaved as I analysed it yesterday, but at this point the cable make higher lows and higher highs suggesting a possible bounce.
1..2640-50 is the zone where the pair could bounce. A rejection from the zonal confluence has formed an inverted head and shoulders pattern that might reach higher targets if the price gets an additional bullish momentum. An hourly close above 1.2660 should spike the pair up to 1.2700 followed with 1.2730. A drop below 1.2610 will make bears stronger again, so this scenario will be negated then.
For more daily wave analysis and updates, sign-up up to our ecs.LIVE channel.
Many green pips,
Nenad Kerkez aka Tarantula FX