Bulls are above support in the right-hand shoulder. and technicals tend to be hard to go by as navigating the fundamentals does not stick to what is seen on the charts. Nevertheless, GBP/USD is above water and there is a bullish bias as the following illustrates:As illustrated, GBP/USD is trading above support and within the right-hand shoulder of the inverse head and shoulders. On the lower timeframes, the bulls will be in the clear while above the1.2540s with a first target in the 1.2570s.
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