FX:GBPUSD   British Pound / U.S. Dollar
Looking first at the weekly chart, GU is most likely setting up to form a Head & shoulders pattern (also on the daily). Scaling down to the H4, price has been in an impulse phase (thus forming the weekly''s right shoulder). Price is currently in a correction phase ( bullish flag ). Therefore, I am expecting another impulse to the upside, which will be followed by a drop to complete the right shoulder.

This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial.

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.