Thoughts on GBPUSD
Before the details, there's something undeniable and is the fact that the price has been bullish for the time frame that we're analyzing and the it makes sense for that time frame for a head and shoulders to be formed.
At this moment, there may be a possibility to go bearish because of the head and shulders. But we have to wait for the rest as shown in the analysis. The ideal retest I'd like to see is at 1.24820. We're just going to operate until the first TP.
If the pattern is right, we will also see a bullish opportunity, but I'll take about later when we see market move downwards. But for starters, there could be an ideal AB=CD pattern at the first TP of the head and shoulders. There will be also an ideal Gartley pattern but that has exceded the 0.786 entry. It'll react at 0.886 in that case the entry price could be at 1.2383.
At this moment, there may be a possibility to go bearish because of the head and shulders. But we have to wait for the rest as shown in the analysis. The ideal retest I'd like to see is at 1.24820. We're just going to operate until the first TP.
If the pattern is right, we will also see a bullish opportunity, but I'll take about later when we see market move downwards. But for starters, there could be an ideal AB=CD pattern at the first TP of the head and shoulders. There will be also an ideal Gartley pattern but that has exceded the 0.786 entry. It'll react at 0.886 in that case the entry price could be at 1.2383.
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