We continue our series of articles about vanilla options on EasyMarkets platform. Today we write about reversed H&S on GBPAUD.
For a few days there is bullish trend on H1 GBPAUD chart. Lately reversed Head & Shoulders pattern was created with red neck line at 1.6739. It doesn’t mean a lot itself. It can be just a temporary break in decreases. However if there will be break of mentioned line it will be a signal predicting bigger rebound. The target point is marked on blue in 1.688 area.
