GBPUSD broke out of a channel on a head and shoulders pattern and it appears that, Head and shoulders pattern has been completed as measured move has been hit. Will be looking to Long on a confirmed reversal.
Komen
epsion22
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Thanks for the excellent chart, a bit new to this so which of the price point is the confirmed reversal? (is 1.305 the estimate buy point if it fails to breach below?) Thanks
SighTTrader
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a confirmed reversal is usually based on reversal patterns, in this case based on candle patterns the confirmed reversal was a break and hold above 1.30886.