OANDA:GBPUSD   British Pound / U.S. Dollar
Possible head and shoulder pattern.

Comments

I'd be cautious with this one for now. We are still inside the range created by the big reaction 7th April 3-4pm. If there is a sign of strength and then a move back into the range then personally I would consider buying
+2 Reply
TipTopForky DrRoach2
@DrRoach2, You could be right to be honest. I personally think this is still part of a pullback from the long buy this pair has had since mid March last year. I have a fib on the monthly and when I go to the weekly timeframe, you can see price is bouncing off and closing above the 23.6% level.
Reply
DrRoach2 TipTopForky
@TipTopForky, Yeah I agree with you that it's giving off strong buy vibes. Personally I'm going to wait for BOS to the up and then hopefully buy in on LPS so thank you for the tip!
+1 Reply
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