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The GBP/USD price continued to rise yesterday to breach the 1.2735 level and stabilize above it, to stop the negative scenario suggested in our recent reports and head towards building an upward wave on the short and intraday, on its way to test the 1.2865 level initially.

On the other hand, we notice that the price completed forming an inverted head and shoulders pattern with positive targets that exceed the aforementioned level to reach the 1.3000 areas, so we expect the bullish trend to dominate during the upcoming sessions unless the 1.2735 level is broken and stabilized below it again.

The EUR/USD price provided more positive trades to breach the 1.0563 level and close the daily candle above it, and by looking closely at the chart, we find that the price completed forming an inverted head and shoulders pattern that supports the chances of further upward correction during the upcoming sessions, so that the price will head towards achieving positive targets starting at 1.0635 and extending to 1.0706.

From here, the upward trend will be likely for today, noting that breaking 1.0563 and stabilizing below it will stop the expected positive scenario and pressure the price to decline again.