GBPUSD has completed a head and a shoulder pattern on the 5th of March and has been trading in a descending channel from the head of that pattern. The pair has also formed a double top formation, testing the right shoulder following the completion of the head and shoulder pattern. This creates opportunities for short trades as both chart patterns are reversal patterns. With that in perspective, more movement to the downside is expected.
Entry Point 1.37700, Stops at 1.38500 & Target at 1.36500
Trading ideas are subjective. Individual analysis advised.
Entry Point 1.37700, Stops at 1.38500 & Target at 1.36500
Trading ideas are subjective. Individual analysis advised.