EUR / GBP: 4 hour chart – upward movement and reversal formation
Formation: “head shoulders” – trend reversal formation
Price action: Pin bar of the neck line – negative signal
50/200 MA: can wait passing price below 50MA for a better signal.
CCI (50): will give a signal when passing below 0
Alternative scenario: If the price crosses over the neck line it’s possible cancellation of negative formation and new bullish momentum.