GBPUSD daily possible head and shoulders

5 May 2020

Either head and shoulders/triple top seems to be forming on the daily timeframe on GBPUSD indicating that a return to March levels could be on the horizon. This has rebounded since the March lows but much too quickly for me liking and I expect a retest of the 1.15 level some time soon. This is a market struggling really for direction therefore I expect that once we do get a break below then this move will be impulsive.