Head and Shoulder Pattern forming after break of upward trend line, there could be a possible change of upward trend to the opposite side which confirms the initial setup I posted earlier. When the H&S has finished forming, the entry point will be the below or break of the neckline and that will be at 1.2470 and first target 40 to 50 pips in the yellow zone. TP 2...
Price will rally a bit to the supply zone above and then descend down but if it doesn't get to the zone and the downward move starts, you can place a pending order at 1.24500 and still set your targets in the area area.
I believe the dollar is gaining strength based on the DXY chart, in view of this, GU will go down for a while with little pull backs. Per the 200EMA which shows a downtrend and the 800EMA which is also yet to confirm the move, signal that indeed the symbol will go down.