I decided to avoid analysing this pair yesterday and today's movement was an interesting one. We saw an early bullish movement and currently price level its near a resistance level @1.2482. Not only that, Wednesday and Thursday will be an important day as we eye the strength of USD awaiting FOMC Statement. I will be seeing a small bullish movement to the resistance level for Monday and Tuesday and I will be anticipating USD to strengthen slightly which brings the Head and Shoulder analysis viable. Definitely, this may be a possible formation but overall I will be seeing GBPUSD moving South.
