Hello Traders,
There is a perfect head and shoulder pattern forming on the daily GBP/USD chart. The second shoulder has formed after hitting the should resistance level at 1.255 with a long bearish daily candle. There may be some pullback before the continuation of the downtrend to hit the neckline support line is at 1.235. Be cautious and patient before entering a short position and look for confirmation of continuation.
There is a perfect head and shoulder pattern forming on the daily GBP/USD chart. The second shoulder has formed after hitting the should resistance level at 1.255 with a long bearish daily candle. There may be some pullback before the continuation of the downtrend to hit the neckline support line is at 1.235. Be cautious and patient before entering a short position and look for confirmation of continuation.