The British Pound may be forming a top against the US Dollar, with prices producing a bearish Evening Star candlestick pattern. Breaking below support in the 1.6667-80 area, marked by the
Taking a short position with prices sitting squarely at relevant support is unattractive from a risk/reward perspective. A clear-cut bullish reversal is absent however, arguing against the long side. We will continue to stand on the sidelines and monitor prices for a palatable setup.