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Actual patterns

Head and Shoulders

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was formed on 23.04 at 22:55:23 (UTC+0)
signal strength 1 of 5

According to the chart of M5, GBPAUD formed the Head and Shoulders pattern. The Head’s top is set at 2.0869 while the median line of the Neck is found at 2.0832/2.0830. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of GBPAUD will go towards 2.0815.

The M5 and M15 time frames may have more false entry points.

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Head and Shoulders