Potential long setup forming on the 1hr chart.
Inverted Head and Shoulders Pattern forming for a long position.
Price needs to clear the neckline, break and close above the 0.382 fib retracement for a long position to be valid.
Stop below right shoulder, First target at A-B=C-D move of the previous impulse leg. Secondary targets up at previous structure.
If price cannot break and close above 0.382 then H+S invalid and shows the AUD strength not for a long on the GBP side just yet
Inverted Head and Shoulders Pattern forming for a long position.
Price needs to clear the neckline, break and close above the 0.382 fib retracement for a long position to be valid.
Stop below right shoulder, First target at A-B=C-D move of the previous impulse leg. Secondary targets up at previous structure.
If price cannot break and close above 0.382 then H+S invalid and shows the AUD strength not for a long on the GBP side just yet