GBPUSD > Head and Shoulders, Waiting for A Strong Breakout!
Updated
Analysis of #GBPUSD
The GBPUSD formed a bullish head and shoulders pattern, as you can see traders tried to push the market to break the neckline but failed to do so.
we can still expect the market to break the neckline, but it needs a fundamental reason, good news from the UK, or the FED tomorrow.
if we break the neckline resistance we can expect the move to continue up to test the next resistance level, that's why I will look for trend continuation entry.
________________________________________
💭 | Comment your thoughts below, I always answer.
📥 | Feel free to message me if you have any questions.
Thanks for your continued support!
The GBPUSD formed a bullish head and shoulders pattern, as you can see traders tried to push the market to break the neckline but failed to do so.
we can still expect the market to break the neckline, but it needs a fundamental reason, good news from the UK, or the FED tomorrow.
if we break the neckline resistance we can expect the move to continue up to test the next resistance level, that's why I will look for trend continuation entry.
________________________________________
💭 | Comment your thoughts below, I always answer.
📥 | Feel free to message me if you have any questions.
Thanks for your continued support!
Trade closed: target reached
200 pips, congrats
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