The British pund has been one of the weakest currencies since the March low. It did managed to rally against the USD, but GBP/USD (Cable) found its top already in early August. The first top displayed a Shoulder/Head/Shoulder top (see the hourly chart belwo), but there was no followthrough and a minor fratal top of the first was build since mid October. A break below 162.52 would activate the smaller Shoulder/Head/Shoulder formation calling for a decline to the 157.05-157.50 area, but do expect this support to be broken to triggering a duble-top formation.
The British pond has been and will be one of the weakest currencies as it was in 2008
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