On the 4hours time frame chart, the price of GBPUSD has been spotted forming a bullish continuation chart pattern called THE HEAD and SHOULDERS BOTTOM CHART PATTERN.
The chart above clearly shows that price has broken out from the neckline and is currently facing a resistance ahead. This will likely bring about a retest of the resistance, which will now turn to support. A break above the current horizontal line marks the continuation to reach the below listed targets.
Breakout level of the resistance: $1.30354
Resistance 1: $1.30668
Resistance 2: $1.31139
Resistance 3: $1.31771
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.
The above mentioned currency can be traded on primexbt.com
The chart above clearly shows that price has broken out from the neckline and is currently facing a resistance ahead. This will likely bring about a retest of the resistance, which will now turn to support. A break above the current horizontal line marks the continuation to reach the below listed targets.
Breakout level of the resistance: $1.30354
Resistance 1: $1.30668
Resistance 2: $1.31139
Resistance 3: $1.31771
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.
The above mentioned currency can be traded on primexbt.com