EUR/GBP, possible Head and Shoulders Pattern
Good afternoon everyone,
On the weekly and daily charts I've found a potential head and shoulders pattern. The head of the pattern was on the same level as weekly/ monthly resistance level, so is the neck of the pattern. When the neckline breaks this is will be an indication that a potential drop is on the way.
Also the Stoch indicator tells me that the currency was overbought recently and is showing weakness.
Tell me what you guys think.
Cheers,
Khaine
On the weekly and daily charts I've found a potential head and shoulders pattern. The head of the pattern was on the same level as weekly/ monthly resistance level, so is the neck of the pattern. When the neckline breaks this is will be an indication that a potential drop is on the way.
Also the Stoch indicator tells me that the currency was overbought recently and is showing weakness.
Tell me what you guys think.
Cheers,
Khaine
Penafian
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