A possible Head and Shoulder formed at Daily GBPUSD chart. On the smaller time frame the 4H time frame is in Overbought zone which indicate that the upside should be limited soon.
Strategy: Go short at minor swing low at 1.6215 (using 5M entry)
Min Target: 1.6051
Typical Taret: 1.5985
Maximum Target: 1.5918
Stop at : 1.6300
I just use simple Fibonacci, Stochastic and classical chart pattern analysis.
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