With the pound on a rampage the question is, Will anyone stick their neck out for a short? Well I'm going to be watching this pair very closely over the next week. We've run into a major support/resistance level on the monthly chart.
The lower timeframes are still not giving me the signal I need to go short but everyone should be watching this level.
I took a chance, I am short on GBPUSD, looking to take profit around 1.6696 which is previous resistance. Originally posted cypher on 15 min chart however when I have consolidated monthly chart I have spotted the same Jason and decided to keep that position, lets wait until end of the week and see how weekly candle will close...
I see a Bearish Head and Shoulders forming it's last leg. Now I understand that it is common for numerous patterns to form during any given time period. I'm new and learning, so I ask, is what I;m seeing correct or are their any criteria that I'm missing?