GBP/AUD is for H&S Lovers

FX:GBPAUD   British Pound / Australian Dollar
164 0 1
One to watch this week (and perhaps next) for H&S lovers is GBP/AUD             . The tentative pattern is actually quite compelling for many reasons.
First of all GBP/AUD             is on a multi-months bullish run which stalled just shy of a major monthly Fib retracement near 1.92.
Also, the pattern itself so far abides by market geometry quite accurately. For instance, left and right shoulders could top at the same 1.8650 level, which is the mid-point between the head and the right neckline, and have the same slope.

Regardless of the completion of the entire H&S pattern, a short above 1.85 with a protective stop above 1.866 does seem a reasonable short-term approach at the moment. Then, if 1.84 breaks it would be surprising not to see at least a test of the neckline.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out