GBPAUD: Potential Head and Shoulders Pattern
GBPAUD is showing a possible Head and Shoulders pattern on the 4-hour timeframe. The pattern suggests a possible trend reversal and a decline in GBP.
The pattern is almost complete, but this week has very low volume and could develop further.
Once the price breaks below the neckline of the pattern, a further decline should occur.
The main targets I am watching:
2.07500; 2.06750 and 2.05500
If the pattern develops as expected, GBPAUD could gradually decline towards the stated targets. However, the strength of this move will depend on market volume and conditions, as well as fundamental factors such as US tariffs or UK economic data.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
GBPAUD is showing a possible Head and Shoulders pattern on the 4-hour timeframe. The pattern suggests a possible trend reversal and a decline in GBP.
The pattern is almost complete, but this week has very low volume and could develop further.
Once the price breaks below the neckline of the pattern, a further decline should occur.
The main targets I am watching:
2.07500; 2.06750 and 2.05500
If the pattern develops as expected, GBPAUD could gradually decline towards the stated targets. However, the strength of this move will depend on market volume and conditions, as well as fundamental factors such as US tariffs or UK economic data.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.