GBPUSD - Trend Reversal Pattern Formation

2024年10月3日

From a technical perspective, it seems like GBPUSD is under the formation of a Head & Shoulder pattern. However, we need to wait and see how the pair is behaving near the neckline while forming the head.

I'm expecting the head to be formed near 1.30000 to 1.30500 levels.

My view co-relates with EURUSD pair. I think the below will happen in these 2 pairs

EURUSD -- Doing a BOS ; GBPUSD -- Reaching the neckline
EURUSD -- Retracing in Daily Timeframe ; GBPUSD -- Forming the right shoulder
EURUSD -- Moving towards the target ; GBPUSD -- Moving towards the target

Good Luck with your trading plans!

2024年10月7日

註釋

The base seems to be formed at 1.30593. I'm expecting the price to push higher from this range in the coming trading days

2024年10月10日

註釋

The head has formed clearly in the 1.30200 range. Going forward I'm expecting a push to the upside to the formation of the Right Shoulder in GBPUSD. Expecting a push towards 1.32500 range in GBPUSD

2024年10月24日

取消訂單

This idea didn't quite go as per plan. The pattern became invalid