There seems to be a possible head and shoulders chart pattern forming on the #GBPUSD, after last week's brilliant rally which we saw the GBP/USD move past 1.70, yesterday the currency pair fell below 1.70 and today it still is below this level.
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| Potential Head and Shoulders? |
If the price moves downwards somewhere near 1.6930 and then reverses back up towards 1.70, I possibly will be looking to enter a short on the GBP/USD.
Lets see what happens.
Labels: Dollar, Forex, FX, GBP, GBP/USD, Head and Shoulders, Pound, trading, trading strategies