The Cable had a similar situation with the EUR/USD, and also created a head and shoulders formation in the mid-term chart. Similarly, this formation was denied, and bears were not able to manage taking full advantage. The only difference was that, here, sellers managed to break the black neckline and drive the price a few pips lower. Unfortunately for sellers, the end of the week was not successful for them because all efforts were wasted and the price drove higher, breaking two resistances: the neckline and 1.6145. The latter will currently be the closest support, and from this point, buyers should be able to attack the tops from the first half of October. The end of the week showed us that the sentiment on this pair can only be one, and it is definitely positive.
GBP/USD Hourly Chart" title="GBP/USD Hourly Chart" width="799" height="380" src="https://d1-invdn-com.akamaized.net/content/picd7e8423f4ae370efd4695e2d11638c86.png">