1. As you can see – a very beautiful pattern with a clear neckline and solid resistance. 2. The descending weekly trend line is overhead, this further supports the possibility of a decline. 3. The rising weekly trend line is in the range that the size of the pattern can reach. 4. When DXY corrects down to its trend line (or so I believe) – this will give the pound an opportunity to test its daily trend lines – from below. If the pattern is not broken, it can go down to its trend line, in full …
Head and shoulders pattern for FX:GBPUSD by koolmus
1. As you can see - a very beautiful pattern with a clear neckline and solid resistance. 2. The descending weekly trend line is overhead, this further supports the possibility of a decline. 3. The rising weekly trend line is in the range that the size of the pattern can reach. 4. When DXY corrects…
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