Potential Head and Shoulders - GU
Here I have GBPUSD on the 4Hr Chart!
Price had been ultimately traveling sideways but after the Lower High created on Jan. 5th, price has been unable to break it and is in a steep decline after the positive news for USD!
Giving us what looks to be a potential Head and Shoulders pattern!!
With the very wide "Right Shoulder" theoretically being created, we are now waiting for the Confirmation of Pattern with Price touching the "Neckline" or Support Zone I have marked.
Price had been ultimately traveling sideways but after the Lower High created on Jan. 5th, price has been unable to break it and is in a steep decline after the positive news for USD!
Giving us what looks to be a potential Head and Shoulders pattern!!
With the very wide "Right Shoulder" theoretically being created, we are now waiting for the Confirmation of Pattern with Price touching the "Neckline" or Support Zone I have marked.
Trade active:
Sell Entry @ 1.2637
