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GBPUSD: Daily IHNS Forming on RS of Monthly IHNS

Long
British Pound / U.S. Dollar (OANDA:GBPUSD)  
RizeSenpai  
OANDA:GBPUSD   British Pound / U.S. Dollar
Chart Patterns Harmonic Patterns Trend Analysis ihns secondaryentry invertedheadandshoulders potentialrightshoulder
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chartpattern harmonicpatterns trendanalysis ihns secondaryentry invertedheadandshoulders potentialrightshoulder
Several weeks ago an Inverted Head and Shoulders was indentified on the Monthly Chart of GBPUSD, The Monthly Candle was forming a Potential Right Shoulder with Hidden Bullish Divergence and on the Daily we did get a decent move up; However, it's recently made a retrace back down on the Daily and may potentially be forming a smaller Daily IHNS almost Mirroring the Monthly Pattern which if plays out correctly will propel price towards the Monthly IHNS Validation Line up near $1.42.

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