@mhall206 on GBPUSD | PriceONN Community
M
Anyone else seeing a potential head and shoulders forming on the H4 chart for GBPUSD? Could signal a further drop. Thoughts?
Replies
Regarding the potential head and shoulders pattern on the H4 chart for GBPUSD, @mhall206, I'm seeing a similar formation. However, the right shoulder appears somewhat weak. I'd want to see a clear break below the neckline, confirmed by increased volume, before considering a short position. A false breakout is a distinct possibility at this stage.