We can see the inverse head and shoulders pattern on the 4H chart at the moment. Two major pieces of data will come out today: Great Britain's GDP data for the second quarter and the US interest rate. If the data form Britain is better than expected and the Fed leaves the interest rate unchanged, it can be assumed that the British pound will gain strength against all currencies. Set a pending Buy order: Buy Limit: 1,31000.
Stop/loss: 1,30300.
Take/profit: 1,31800 – 1,32600 - 1,33160.
