GBP/USD Big SHS Pattern as the Drop is Expected After a Pullback

The GBP/USD is bearish. We could see a move to the POC zone and from there we might expect a fresh drop.

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1.3883-1.3893 is the POC zone. There is a confluence of a SHS pattern trendline and the zone. If the strong trend persists then it will be hard to break the 1.3856 zone too. The target is 1.3800. Look for potential rejections close to 1.3856 or the POC zone. If 1.3900 stays unbroken, the bearish trend will likely continue.

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For a look at all of todays economic events, check out our economic calendar.

Cheers and safe trading,

Nenad

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