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Magnatrio

GBPUSD Analysis

Long
British Pound / U.S. Dollar (FX:GBPUSD)  
Magnatrio  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Chart Patterns Beyond Technical Analysis GBPUSD gbpusdlong gbpusdanalysis gbpusdidea gbpusdsetup gbpusd4hrs gbpusdbuy gbpusdanalysisdaily
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trendanalysis chartpattern beyondta gbpusd gbpusdlong gbpusdanalysis gbpusdidea gbpusdsetup gbpusd4hrs gbpusdbuy gbpusdanalysisdaily
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.

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