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GBPUSD Head & Shoulder Pattern At Top

Short
Sterlina / Dollaro (FX:GBPUSD)  
Fx_Trader_ViSa  
FX:GBPUSD   Sterlina / Dollaro
Trend Analysis Harmonic Patterns Chart Patterns GBPUSD gbpusdanalysis pound dollar eurodollar Forex forexsignal forexanalysis forextrend
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trendanalysis harmonicpatterns chartpattern gbpusd gbpusdanalysis pound dollar eurodollar forex forexsignal forexanalysis forextrend
GBPUSD has formed head & shoulder pattern at the top. It has achieved its first target, which was at support 1 and it bounces back from support 1 to retest the neckline. Now, it is also trading in descending channel pattern, as shown in the chart, we might see a downside in GBPUSD, as it is facing the resistance of neckline and resistance of channel pattern. One can initiate the short side trade with proper risk management and stop-loss just above the resistance line of channel pattern.

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