Here I have GBPUSD on the 4Hr Chart!
Price had been ultimately traveling sideways but after the Lower High created on Jan. 5th, price has been unable to break it and is in a steep decline after the positive news for USD!
Giving us what looks to be a potential Head and Shoulders pattern!!
With the very wide "Right Shoulder" theoretically being created, we are now waiting for the Confirmation of Pattern with Price touching the "Neckline" or Support Zone I have marked.
Price had been ultimately traveling sideways but after the Lower High created on Jan. 5th, price has been unable to break it and is in a steep decline after the positive news for USD!
Giving us what looks to be a potential Head and Shoulders pattern!!
With the very wide "Right Shoulder" theoretically being created, we are now waiting for the Confirmation of Pattern with Price touching the "Neckline" or Support Zone I have marked.
Trade active
Sell Entry @ 1.2637
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
For All Things Currency,
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Keep It Current,
With Novi Fibonacci!
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.