On the GBP/USD daily chart, there is a consolidation in the range of 1.234-1.258.
To restore the bullish trend, the bulls will need to test the resistance at 1.264 and 1.268. 
On the GBP/USD hourly chart, there are two scenarios for the pound.
1. A breakout of the resistance at 1.258, followed by the rally towards 1.263 and rollback to 1.258 will be a signal of the bulls’ weakness. This will allow us to sell the pound.
2. Formation of the second shoulder of the “Head and shoulders” pattern, followed by the return of quotes to the neckline can lead to the restoration of the long-term bearish trend.
Origin: FX BAZOOKA
