ForexAnalytix

GBPAUD about to break higher!

FX:GBPAUD   영국 파운드/호주 달러
I have a hard time playing a head and shoulder (inverted in this case) pattern without an "arm" to the left of the chart, but this pattern can't be ignored. The #GBPAUD is setting up a possible inverted head and shoulder pattern with a target at the 1.9600 level. 

I tend not to trade these patterns, but the fact is that we had a triangle breakout back in May 2021, and this break higher over the last couple sessions look similar. A daily close above the 1.9000 level would be a big warning for bears and a move above the 1.9170 level would be a straight up breakout which you may not want to stand in front of.

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