GBP/AUD Potential Head and shoulders formation GBP/AUD
If price action:
1) makes a Re-test of the 0.5 Fib level before,
2) resting the previous support,
We could have a potential inverse head and shoulders forming,
Monthly- Looks like its facing a long term channel support,
Weekly- Respected trend line now we have a green engulfing candle so will either make another move to the upside or melt back to test the trend line.
Daily- Potential inverse head and shoulders break up.
1) makes a Re-test of the 0.5 Fib level before,
2) resting the previous support,
We could have a potential inverse head and shoulders forming,
Monthly- Looks like its facing a long term channel support,
Weekly- Respected trend line now we have a green engulfing candle so will either make another move to the upside or melt back to test the trend line.
Daily- Potential inverse head and shoulders break up.