Get started
rahiljavid

GBPUSD to rise to resistance then fall to support

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
rahiljavid Updated   
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Wave Analysis GBP USD GBPUSD headnandshoulders shortsetup
11
0
trendanalysis chartpattern waveanalysis gbp usd gbpusd headnandshoulders shortsetup

GBPUSD

After analysis on the pair GBPUSD it can be seen that a reversal will soon occur near the strong resistance at 1.624. This would cause the pair to drop all the way to around the strong support at 1.2280. This move would also complete the head and shoulders pattern forming which can be seen clearly on the 4 hour time frame.

Entry @ 1.25680
SL @ 1.26500
TP1 @ 1.25320
TP2 @ 1.24680
TP3 @ 1.23590
TP4 @ 1.22790
Trade active:
Trade has just opened with strong downward momentum
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.