GBPUSD - Trend Reversal Pattern Formation
From a technical perspective, it seems like GBPUSD is under the formation of a Head & Shoulder pattern. However, we need to wait and see how the pair is behaving near the neckline while forming the head.
I'm expecting the head to be formed near 1.30000 to 1.30500 levels.
My view co-relates with EURUSD pair. I think the below will happen in these 2 pairs
EURUSD -- Doing a BOS ; GBPUSD -- Reaching the neckline
EURUSD -- Retracing in Daily Timeframe ; GBPUSD -- Forming the right shoulder
EURUSD -- Moving towards the target ; GBPUSD -- Moving towards the target
Good Luck with your trading plans!
I'm expecting the head to be formed near 1.30000 to 1.30500 levels.
My view co-relates with EURUSD pair. I think the below will happen in these 2 pairs
EURUSD -- Doing a BOS ; GBPUSD -- Reaching the neckline
EURUSD -- Retracing in Daily Timeframe ; GBPUSD -- Forming the right shoulder
EURUSD -- Moving towards the target ; GBPUSD -- Moving towards the target
Good Luck with your trading plans!
Nota
The base seems to be formed at 1.30593. I'm expecting the price to push higher from this range in the coming trading days
Nota
The head has formed clearly in the 1.30200 range. Going forward I'm expecting a push to the upside to the formation of the Right Shoulder in GBPUSD. Expecting a push towards 1.32500 range in GBPUSD
Ordem cancelada
This idea didn't quite go as per plan. The pattern became invalid
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.