Head and Shoulders - GU

Here I have GBP/USD on the 30 Min Chart!

We currently have price outlining 3 different Highs outlining what looks to be a Head and Shoulders Pattern on top of the Support or "Neckline"!

I believe we could be seeing a possible Reversal coming!

**Chart Patterns are known to fail 1/3 of the time so BEWARE OF FALSE BREAKS!

-Pattern Prediction-
If Price Breaks and Closes above 1.27085, Pattern INVALIDATED!
If Price Breaks and Closes below 1.26729, Pattern CONFIRMED and will initiate Trade Action Plan!

Yorum:

It would seem price has INVALIDATED the Head and Shoulders set-up and is now looking like a BULL FLAG formation!