GBPUSD Analysis Daily down to 15 min 4 of 4

FX:GBPUSD   British Pound / U.S. Dollar
394 1 11
After not much on the 60 min we can drop down to this time frame.

Inverted Head and Shoulders Pattern formed here on the Lower day trading time frame which is another good indication that market is likely to reverse.
You can see we have penetrated the neck line and pulled back into that area, so anyone who trades H & S patterns like this then now is not a bad entry level.

The issue with trading this pattern is that unless you are shooting for extended targets initially, you will have an inverse risk reward as stops will need to go below previous structure support .
If you wait for a 618 retracement then you will get a better R:R

Nice analysis Jason, thanks for pumping these out. See you in the live room.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out