EURGBP: Pullback Right into the Trend

2016년 5월 29일Hey guys! After EURGBP broke through last week or so with an absolutely beautiful Complex Head and Shoulder's Pattern, I spotted that the profit target for the H&S Pattern would actually pierce through the 0.74850 Major Resistance Level! (Pink line).

Weekly also show a sharp downtrend, with the H&S Pattern head directly touching the 61.8 Fib level

What influenced my decision:
-General trend for Weekly is very bearish
-Prices just retraced and reversed to the 61.8 Fib Level on Weekly
-Profit target for H&S Pattern shows it would pierce through


Hmm, for now, I'm staying bearish! If so, I'll probably wait for a retracement back to the level before selling!
Maybe someone can shed some light on whether 0.74850 would hold? :)

Complex Head and Shoulder's Pattern:
thepatternsite.com/chst.html

Good luck guys! May the pips be with you!