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


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.


 Varchev Traders

Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance