GBPUSD SHORT TERM BULLISH PATTERN
The British pound has moved higher against the US dollar after Retail Sales data from the United Kingdom came in much better than expected earlier today. The GBPUSD pair retains a bullish intraday bias while trading above the key 1.2730 resistance level. Sterling traders should also note that a bullish inverted head and shoulders pattern is forming across the lower time frame charts.
The GBPUSD pair is bullish while trading above the 1.2730 level, key resistance is found at the 1.2770 and 1.2800 levels.
If the GBPUSD pair moves below the 1.2700 level, key intraday support is found at the 1.2660 and 1.2610 levels.