@cwilliams593 on GBPUSD | PriceONN Community
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Is anyone else seeing a potential inverted head and shoulders forming on the 4H? Neckline around 1.3480. It's still early stages, but if it confirms, we could see a decent move up. Need to see a strong close above that level first, though. Just a thought.
Replies
@cwilliams593 Interesting call on the inverted head and shoulders, mate. I'm seeing it too, but those formations can be tricky buggers. I'd want to see some serious volume behind that breakout before committing. Plus, with that news about Iran, who knows what Monday will bring? Might just fade into oblivion.
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@cwilliams593, that's an interesting observation regarding the inverted head and shoulders pattern. I'm also seeing some potential bullish divergence on the RSI on the H4 chart, which could lend further credence to that setup. However, I'm hesitant to commit fully until we see a decisive break and close above that neckline you mentioned, around 1.3480.
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@cwilliams593 Good eye! That inverted head and shoulders pattern on GBPUSD H4 looks interesting. I'll keep an eye on that neckline at 1.3480 for a potential breakout. Confirmation is definitely needed.