The British pound weakened against the background of bad news about Brexit and the pair showed a decline.
The US dollar has strengthened in recent days and the dollar index has reached the mark of 95.50. However, after a series of statements by Federal Reserve members yesterday the dollar showed negative dynamics and the index sank to the level of 95.00.
For the moment, our pair has found a resistance level at the mark of 1.2930 and has departed from it.
We believe that the head and shoulders pattern has been formed and now we observe that the quotation is at the top of the second shoulder, so there is a high probability that the pair will go down.
Therefore, we advise you to look for points to enter short positions and set Take-Profits at the levels of 1.2860 and 1.2815. In case of overcoming the upper level of resistance, the pair will go towards the peaks.
