GBPUSD - Possible inverse head and shoulders?
Trade Idea
A bullish reverse Head and Shoulders is forming.
The medium term bias remains bearish.
We have a 78.6% Fibonacci pullback level of 1.2588 from 1.3380 to 1.2373.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
We look to Buy a break of 1.2605
Stop: 1.2560
Target 1: 1.2710
Target 2: 1.2750
A bullish reverse Head and Shoulders is forming.
The medium term bias remains bearish.
We have a 78.6% Fibonacci pullback level of 1.2588 from 1.3380 to 1.2373.
Although the anticipated move higher is corrective, it does offer ample risk/reward today.
We look to Buy a break of 1.2605
Stop: 1.2560
Target 1: 1.2710
Target 2: 1.2750
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