The GBP/USD has formed a form of inverted head and shoulders pattern on the H1 chart. Unless 1.2680 breaks, we will see a retest of lower camarilla pivots.
The price has made a break of 1.2650 level to the downside. Watch for 1.2620 and 1.2600 if bearish momentum persists. However, if the price drops to 1.2600 a reversal bullish pattern should provide a counter trend trade opportunity due to a big support confluence in the area. Only if the pair breaks 1.2680 we will see a reversal towards 1.2720. Below 1.2680 bears are dominating. All bearish signals are very visible on the screen as they are non-repainting and fully automated.
The analysis has been done with the CAMMACD.MTF template.
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