GBPUSD : Trading with the head and shoulders pattern
Updated
The Head and Shoulders pattern in this chart is signaling a potential bearish reversal.
Key area: If the price breaks below the neckline around 1.3040, we might see a continued downward movement.
Target price: If the breakout is successful, the price could drop towards the 1.2815 zone.
Strategy: You can consider entering a sell position if the price falls below 1.3040, aiming for 1.2815, with a stop loss placed safely above 1.3170 (right shoulder area).
Wishing you all successful trades and good luck!
Key area: If the price breaks below the neckline around 1.3040, we might see a continued downward movement.
Target price: If the breakout is successful, the price could drop towards the 1.2815 zone.
Strategy: You can consider entering a sell position if the price falls below 1.3040, aiming for 1.2815, with a stop loss placed safely above 1.3170 (right shoulder area).
Wishing you all successful trades and good luck!
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