very interesting picture on pound dollar this morning:
starting looking this pair on a daily, we see that from January 2019
the pair is going up in a .
after establishing a higher high on 27th of Feb,
the market was not managed to go higher,
and bounced down retesting this high on 13th of March forming a pattern.
also gives us an indication of a weakening momentum being overbought
with consequent divergence.
on a 4h chart we see a formation of a head and shoulder pattern with the wide neckline to be focused on.
this wide around 1.3 level is the last resort for bulls.
violation of this area will trigger a selling reaction and will drive the market all the way down.
your plan for this week:
sell breakout of this support
with T1 - 1.28
T2 - 1.26