GBPAUD HARMONIC PATTERN

12. Jan. 2020

The Daily timeframe analysis shows a HEAD AND SHOULDER PATTERN FORMATION which shows a huge possibility of a trend reversal. The second shoulder formed at 1.91 area then found support at 1.87 area. The neckline area is at 1.87 to 1.86 area. For a huge trend reversal, price would have to close below the neckline area but however. The H1 timeframe shows a harmonic pattern that should a huge possibility of price reaching the neckline area then bounce back up, giving an ENTRY AREA for buyers to take the trend up.