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EUR / GBP: Formation “head & shoulders” – possible downgrade

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

indicators:

50/200 MA: can wait passing price below 50MA for a better signal.

CCI (50): will give a signal when passing below 0

SL 0.86468
Alternative scenario: If the price crosses over the neck line it’s possible cancellation of negative formation and new bullish momentum.

Jr_Trader_I_Ivanov


 Varchev Traders


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