GBPUSD forming H&S in Daily Timeframe.
GBPUSD is now heading towards an important level after breaking the recent small head and shoulders support/neckline around 1.25900, we expect the price to fall at the market open to this level at $1.23250, basically the market has already had broken the ascending channel at $1.27900 due to the head and shoulders formation.
The "Head" - @1.31280 and shoulders price level can be seen at @$1.28050. This pattern is clearly seen on the lower time frames - 4H and H1 and the market appears to be making another head and shoulders formation and this tells us that more bearish market is on the way.
🔥: GBPUSD SETUP: NEUTRAL
🔥BUY ZONE: $1.23180
🔴SL: - $1.2285
🟢TP - $1.2601
Next
🔥SELL Zone: $1.2678
🔴SL: - Open
🟢TP - $1.2340
🟢TP - $1.1992
The "Head" - @1.31280 and shoulders price level can be seen at @$1.28050. This pattern is clearly seen on the lower time frames - 4H and H1 and the market appears to be making another head and shoulders formation and this tells us that more bearish market is on the way.
🔥: GBPUSD SETUP: NEUTRAL
🔥BUY ZONE: $1.23180
🔴SL: - $1.2285
🟢TP - $1.2601
Next
🔥SELL Zone: $1.2678
🔴SL: - Open
🟢TP - $1.2340
🟢TP - $1.1992
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