Tuesday, June 9, 2015

Possible Head and Shoulders pattern on the GBP/USD

On the daily chart of the Pound versus the Dollar we can see that the pair has been oscillating around the 200 period exponential moving average and it has formed what it appears to be a Head and Shoulders pattern. What we can do now is just wait for the price to break below the neckline and then the pullback to the same neckline for a possible short entry.


at

7 comments:

Subscribe to: Post Comments (Atom)

WTI oil at the 200 day EMA

WTI oil breaks below the 66.27 support zone and accelerates its bearish momentum towards the 200 day EMA around the 64.30 level. We have b...

  • The USD/CAD in consolidation mode
    The USD/CAD gets tangled between the 21 day EMA and the 55 day EMA, also between the 1.2800 and the 1.3000. From this point the pair may go...
  • Gold continues consolidating
    The price of gold is still consolidating as shown on the daily chart between the 1281 as support and the 1304 as resistance. At the 1304 lev...
  • Pullback to a key level on the EUR/USD
    The EUR/USD has been very volatile lately, but it has not taken a clear a direction. The pair has been consolidating between the 1.2300 leve...