GBP/USD possible opportunity to short with H4 head and shoulders

Mar 28, 2018

With the recent changes in USD interest rates we are seeing a strong USD so that means pairs like GBPUSD, EURUSD, and USDCHF are falling. right now the only nice setup I see for a possible short is in GU. We have a clear head and shoulders formation in the H4 chart, the head being rejected by a monthly strong resistance, and the price is testing the neckline right now. We have to wait and see how price reacts to that zone but I think it may break it. Otherwise, it could go up and we could take the long.

Looking forward to reading opinions :)

Mar 29, 2018

Note

It seems like it may have broken the support zone. I took a 1% risk sell, and in the post I meant that USDCHF is going up :) my mistake.