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FX.co ★ GBPAUD M5: Inverse Head and Shoulder

GBPAUD M5: Inverse Head and Shoulder

Inverse Head and ShoulderAccording to the chart of M5, GBPAUD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.7596 while the median line of the Neck is set at 1.7614/1.7615. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of GBPAUD will go towards 1.7630.
The M5 and M15 time frames may have more false entry points.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
Go to the patterns list Go to graph