was formed on 09.05 at 08:00:23 (UTC+0)
signal strength 2 of 5
signal strength 2 of 5
According to the chart of M15, GBPUSD produced the pattern termed the Inverse Head and Shoulder. The Head is fixed at 1.3211 while the median line of the Neck is set at 1.3250/1.3241. The formation of the Inverse Head and Shoulder Pattern clearly indicates a reversal of the downward trend. In means that in case the scenario comes true, the price of GBPUSD will go towards 1.3263.
The M5 and M15 time frames may have more false entry points.
Figure
Instrument
Timeframe
Trend
Signal Strength
