possible head and shoulders pattern, if so easy set up. Target: 1.0000 (drawback then continuation?) Warning- I m Not a Financial Adviser this idea Only For Educational Purpose Only.
Gbp has been slowly completing a triangle pattern and now looks to attack the upper trend line, if it holds its bullish momentum above 1.31200. Target: 1.31600 Warning- I m Not a Financial Adviser this idea Only For Educational Purpose Only.
I believe there is still bearish momentum, enough to break the blue trend line (watch out for pullbacks) and slowly continue to the green daily trend line after breaking through 1.3300. Lets see what next week holds!
Looking for a 50-61.8 retracement then bearish movement towards 1.32400.
Just reading the chart, but next week is a new week. Happy trading!
As you can see the chart has bounced of both trend and support lines, I am looking to see another test/break of the upper trend line.