BLUE43

GBPAUD Back to the support - another leg up ?

FX:GBPAUD   British Pound / Australian Dollar
153 4 29
...
Comment: price pullback and try to go up of this support / resistance level
good sharing
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Possibly! Looks like an inverted head and shoulders pattern. That spring is off a multi-pivot line that stretches back to 2016. Could be a price spring -- I hold no assumptions about it because it isn't a setup I've researched or am trading :)

Cheers
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BLUE43 TOP iorek65
@iorek65, on 12h tf look like a Morning S pat
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iorek65 BLUE43
@BLUE43, Indeed -- Morning or Evening? I believe Evening stars are generally associated with the doji found at the base/support levels.

If it's a buy, it's probably a decent context. Reversal candle and geometric patterns tend to do something based on where they are and background. So this pattern found at an all time high could be interpreted very differently from being found at Weekly/multi year lows.

Nonetheless, trends can prevail and defy expectations -- everything works, and everything fails! :)
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