Forex Trader

On September 18. I wrote about the return of the Pound and here we are only several days latter, the US dollar strike back hard! The pair is back to Daily MA200 at 1.5345 today and it has erase all gain from September 16./17. As I see it, there is H&S formation in the H1 chart and there is possible H&S formation here at H4 chart as well. If the Pound manage to rebound back to 1.5400/500 watch at that possibility. If this support level at 1.5300 breaks, the pair could fall again to 1.5200. On the way up, 1.5380/400 is the first resistance now, on the way down, 1.5310/40 as support. As I wrote in my previous GBP/USD analysis, interesting 4 weeks in this pair, let’s add another one, the 5-th one.