GBPUSD – Daily Forex Technicals by ForexHound.com July 2nd

The morning fall in GBPUSD triggred a head and shoulders pattern on the intra day timeframes, a H&S with the head formed just at the 2.00 round number and the neckline at the 1.99 level and a projected target of 1.98.
The morning fall in GBPUSD triggred a head and shoulders pattern on the intra day timeframes, a H&S with the head formed just at the 2.00 round number and the neckline at the 1.99 level and a projected target of 1.98 where we also have the EMA(62) (in blue on the chart below) that is known to be looked at by technical traders.

Today’s eceonomic events that can have an impact on the way the pairs move.

http://www.forexhound.com/calendar.cfm

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