Last week, the pair hit a resistance while in a downtrend. since then market was a little bit noisy.
Hereby, creating a head and shoulders pattern on the 1hour time frame.
I used the 10,20 and 50 MA for trend confirmation and i got a confirmation by the crossing of the 10 MA over the 20 MA .
I then went to the 15min time frame, to look for suitable entries for...
Today, GBP/USD hit a very obvious low.
A previous support was already created, price came and tested that same SUPPORT twice creating a double bottom {W shaped price action pattern} and is set to return to previous resistance at 1.39000
