GBPUSD (SHORT) Waiting for the break of Head & Shoulder
Price has been moving in a tight range
near the weekly trend line area.
It is now forming a head & shoulder pattern
which increases the possibility of it going to the downside!
We want to see the price breaking below
the neckline for confirmation as the movement
of USD for the past few days is pretty wild.
This level is the projected profit target
if the price is able to break down the pattern
which is measured from the peak of the "head"
to the neckline!
near the weekly trend line area.
It is now forming a head & shoulder pattern
which increases the possibility of it going to the downside!
We want to see the price breaking below
the neckline for confirmation as the movement
of USD for the past few days is pretty wild.
This level is the projected profit target
if the price is able to break down the pattern
which is measured from the peak of the "head"
to the neckline!