We have noted in yesterday's technical alert that GBPUSD may benefit from the inverse head and shoulders pattern. After breaking above the neckline, the pair approach the key resistance. The 1.30 area is a crucial barrier for sellers as the upper limit of Overbalance structure and the 38.2% Fibonacci retracement can be found there. The nearest support to watch can be found at 1.2900.
GBPUSD H1 interval. Source: xStation5
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