-
GBP/USD - Another Downswing will form a Head and Shoulders
Head and shoulders: After retreating from 1.5717 GBP/USD held above a previous support at 1.5421 and is now back up to test the 1.56 handle where it has so far shown resistance twice. Note that this is where a previous high in early August was made. A downswing that breaks below 1.55 refocuses on the 1.5421 pivot and therefore would be completing the right shoulder in a H&S pattern. Trendline: Also note that the downswing below 1.55 would probably break below a rising trendline that is coming up from the 1.4813 July and 2013 low. Then, a break below the 1.5420 level opens up the 1.5101 pivot first before exposing the ... (full story)
- Comments
- Comment
- Subscribe
- Comment #1
- Quote
- Sep 3, 2013 12:14pm Sep 3, 2013 12:14pm
- michaelpelly
- Joined Oct 2012 | Status: Member | 1992 Comments
- Comment #2
- Quote
- Sep 3, 2013 1:31pm Sep 3, 2013 1:31pm
- nAVIN2007
- Joined Dec 2007 | Status: mac daddy junior :) | 389 Comments
- Comment #3
- Quote
- Sep 3, 2013 2:00pm Sep 3, 2013 2:00pm
- Spreadbetter
- | Membership Revoked | Joined Feb 2012 | 3235 Comments
"The meek shall inherit the earth.." Yeah right, good luck with that shit..
- Comment #4
- Quote
- Sep 3, 2013 5:57pm Sep 3, 2013 5:57pm
- Ill-b-back
- Joined May 2011 | Status: Get to the Chopper | 3897 Comments
Come with me if you want to live....
- Comment #5
- Quote
- Sep 3, 2013 11:23pm Sep 3, 2013 11:23pm
- michaelpelly
- Joined Oct 2012 | Status: Member | 1992 Comments
- Comment #6
- Quote
- Sep 4, 2013 12:33am Sep 4, 2013 12:33am
- Guest
- | IP XX.XXX.110.4
- Comment #7
- Quote
- Sep 4, 2013 12:34am Sep 4, 2013 12:34am
- michaelpelly
- Joined Oct 2012 | Status: Member | 1992 Comments
- Comment #8
- Quote
- Sep 4, 2013 3:48am Sep 4, 2013 3:48am
- abbakano
- | Joined Mar 2013 | Status: Member | 19 Comments