FX:GBPUSD British Pound/U.S. Dollar
GBPUSD on a wave 4 correction. This is probably the last correction before channel bottom hit, for intraday traders the break of the channel could be interesting.
Please don't put all your money on a trade. As for the head and shoulders, try to understand where it is happening, it is not in itself a trade setup. For example, I know some people that got trapped on this one and it was clear it wasn't going nowhere. As for this pair, I agree that may go lower, I'll reanalyse once it hits the bottom of the channel probably by the end of the weel. The next chart is not related, just a 4H timeframe head and shoulders that trapped many people.
i remember this chart acutally, last time i went long aud even during brexit, i hold the position , becoz the strong weekly reversal signal tell me it will just go up . for me the trendline no.1 ; support and resistence also the reversal point no.2 ; structure no.3; ema and other indicators no.4