On the H4, GBPUSD price is moving around the resistance level. The price has already bounced down. Now a correction is possible, after which we can expect a fall. The Stoch RSI momentum shows bearish and MACD is showing bearish wave on going, MACD bars are turning dark red, and MACD line has smoothly broken below the signal line.
In addition to all the above analysis a head and shoulder pattern is created and please remember that the pattern is only confirmed once, the sell off from the second shoulder breaks below the neckline,

• There is resistance 134.390, followed by resistance at 134.630 and 135.090.
• There is support at 134.960. Below, there is 133.349 and 130.407.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.