The EUR/USD pair has pulled back and re-tested the neckline of the inverted H&S at 1.2440 and it will probably continue its rally from here, targeting 1.2550 first, which is the top of the channel, and then possibly 1.2640 at the point where it would meet a down-sloping trend-line. A decisive break back below 1.2440 would be a bearish sign and open the way to support at 1.2315.
Written by Forex4you