As you can see price has been creating strong bearish momentum on the GBPUSD which has in turn given us a long descending channel. However, price is starting to give us some signs of a potential bullish reversal on the pair as an inverse head and shoulders pattern has started to develop, coincided with price giving us a strong wick rejection on that 1.17605 level of support. This could lead to price giving us our third touch on the trendline resistance after the completion of the right shoulder, on the head and shoulders pattern, which could then lead to a breakout. The bullish breakout will be confirmed once price breaks above the neckline of the inverse head and shoulders pattern which could lead to price rallying all the way up to the 1.36211 level.
Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.