FX:GBPUSD   Pound Sterling/U.S. Dollar
150 9 7
We have a Head & Shoulders variant on the 4h for GBPUSD             so we expect price to continue to fall. However, has reached a support level and may bounce a bit before its continuation lower. If price breaks through the downtrend it may render the short invalid.
Hello,

Any news ?
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@Mela1, it broke the dotted line so should retest the yellow line
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Mela1 ElemontFX
@ElemontFX

Right

thanks
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hello,

What do you think about this move ?

wait your news.

thanks...
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@Mela1, looks like it will either bounce off the dotted line (if you extend it) or retest the yellow uptrend line
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Mela1 ElemontFX
@ElemontFX

Ok ..thanks.

will be good...
Reply
Hello,

What do you expect after this move ?

your target price ?

Thanks.
Reply
@Mela1, Right now there is resistance but price is still uptrending. If this makes a new high now, next resistance around 1.2470 and then major resistance at 1.2640. They would be the targets
Reply
Mela1 ElemontFX
@ElemontFX,
Many thanks for yor reply, and for your support.

Very good chart.

Reply
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