Hi Traders,
We have a lovely Head & Shoulders (H&S) reversal pattern here on GBPAUD. If you are looking for a short entry, see the chart above for a potential setup. The head and shoulders reversal is now complete with the break and close below neckline support. A pullback into that previous support level will give bears a solid opportunity to add to positions or re-enter short. IF we can stay below 2.0300, THEN I am expecting follow through to the downside to test 2.00 even handle.
Good trading,
Luke
We have a lovely Head & Shoulders (H&S) reversal pattern here on GBPAUD. If you are looking for a short entry, see the chart above for a potential setup. The head and shoulders reversal is now complete with the break and close below neckline support. A pullback into that previous support level will give bears a solid opportunity to add to positions or re-enter short. IF we can stay below 2.0300, THEN I am expecting follow through to the downside to test 2.00 even handle.
Good trading,
Luke