GBPUSD has broken down through the neckline of a head and shoulders pattern developed since mid-April. This would indicate a substantial decline ahead, and a strengthening of DXY. This is similar to the head and shoulders pattern seen in EURUSD. (See my related idea on EURUSD).

NOT INVESTMENT OR TRADING ADVICE.

Chart PatternsDXYGBPGBPUSDHead and ShouldersUSD

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