๐ป๐ GBPUSD Alert! Head and Shoulders Pattern(ultra bearish)๐๐ป
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๐จ Brace yourselves for a trend reversal! The GBPUSD forex pair is showing a compelling bearish setup with the formation of a head and shoulders pattern. This classic yet highly reliable pattern has a proven track record of success.
Technically, the head and shoulders pattern materializes as the price forms a lower high and breaks through the initial support level, transforming it into a formidable resistance. This signifies a shift in the market sentiment and sets the stage for a potential downtrend.
Excitingly, we are now witnessing a crucial development in this setup. The neckline of the pattern has been broken, followed by a successful retest. This presents us with an excellent opportunity to join the ongoing bearish momentum and capitalize on the potential downward move.
Our target for this bearish trade will be around 1.20500 with several take profits along the way, aligning with the expected continuation of the downtrend.
Stay ahead of the game and make the most of this bearish breakout on GBPUSD! ๐๐ช
Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you think this insight was helpful ๐
Technically, the head and shoulders pattern materializes as the price forms a lower high and breaks through the initial support level, transforming it into a formidable resistance. This signifies a shift in the market sentiment and sets the stage for a potential downtrend.
Excitingly, we are now witnessing a crucial development in this setup. The neckline of the pattern has been broken, followed by a successful retest. This presents us with an excellent opportunity to join the ongoing bearish momentum and capitalize on the potential downward move.
Our target for this bearish trade will be around 1.20500 with several take profits along the way, aligning with the expected continuation of the downtrend.
Stay ahead of the game and make the most of this bearish breakout on GBPUSD! ๐๐ช
Feel free to share your toughts in the comments section, follow me for updates and don't forget to press the like button if you think this insight was helpful ๐
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TP1 reachedืืขืจื
Psalm 1211 I lift up my eyes to the mountainsโ where does my help come from? 2 My help comes from the LORD, the Maker of heaven and earth.
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TP2 reached
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