RBNonit
Short

GBP/USD : Chart of the week

FX:GBPUSD   British Pound/U.S. Dollar
Last week:

Order didn't go off, no trades were taking on last week chart. No wins, most important no loss ;-)


This week:

Like this set-up:

- Head and shoulders pattern ( after uptrend = reversal )
- right shoulder was formed at 50% fib + zone of resistance + 3rd TL bounce
- MA's crossed to the downside
- MACD shows bearish divergence

Now, we want to see a break of the neckline, and go short. If we miss that entry we can enter on nice price action of the retest of the back of the neckline.

Target 1: 1.485 ( great confluences )
Target 2: 1.46 ( will be reached when we break 1.485 )



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