FX.co ★ GBPUSD M15: Inverse Head and Shoulder

GBPUSD M15: Inverse Head and Shoulder

Inverse Head and ShoulderAccording to the chart of M15, GBPUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.3304 while the median line of the Neck is set at 1.3327/1.3325. 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 GBPUSD will go towards 1.3348.
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
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