GBP/USD - inverse head and shoulder breakout on 4-hr chart
- Now we have almost confirmed an inverse head and shoulder breakout on the 4-hr chart, courtesy of Bank of England's decision to keep interest rates unchanged.
- Both the chart in a way add credence to each other and confirm the GBP is likely to move higher in the short-term.
- A daily close today in Cable above 1.3315 (23.6% fibo retracement) would open levels up to 38.2% Fibo.
