If one look at the Gbp daily chart one can see a similar thing happening as with Eur on the longer term. Note the two H & S formations formed at the end of the bullish trend. Here is the interesting part, as the market has failed to reverse the trend we note that the patterns has realized and that it seems as if the market is losing steam, note the top of the second formation being lower. It might be suspected that the 1.7500 are can be seen as a possible neckline for a bigger double top which could also reverse the trend if it should realize.

PLEASE LOOK AT THE
CHART
ON http://www.forexpro.co.za