FX:GBPUSD   British Pound / U.S. Dollar
443 4 3
All traders please pay attention: GBPUSD             now officially form head and shoulder pattern clearly.

UK ecnomomy is considered on the peak. The latest economic reports from the U.K. including today’s PMI services index, which fell to a 6 month low confirms U.K. growth peaked at the end of last year

This could encourage investors and traders take profit after long run of GBPUSD             .

Tomorrow, if US Non-Farm Payrolls is positive, even more positive ( most likely it would happen, most economists forecast the payrolls will hit 200k , and alot of indicators of US economy recently show US economy is on the moderate recovery pave), the GBPUSD             would fall sharply, and no force can hold this trend.

There are a lot of rooms to SHORT GBPUSD             now.

Traders should wait until G/U crosses through the neckline, then open position . The catalyst will be NFP report tomorrow. And the final target is 1.6 I show on the chart.

Good Luck all traders.
the main trend is still clearly up, could also form an inverted h&s, and we are about to form the right shoulder with the hold at the weekly pivot and respecting the daily 50 mva
Why not a ascending triangle which would just be a continuation of the trend higher? Or I could see it going into some basing until the weaker economy(US or UK) wins. I would need to look at shorter time frame on this. Not so sure US is in recovery. Just my thoughts.
threetooltrader threetooltrader
I said weaker, I should have said either USD or GBP wins
Sforex threetooltrader
Please pay attention in Fundamental.

TA should confirm FA

I always focus on FA than TA.

Please read my FA first.
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