GBPAUD SHORT POSITION

If we do see the GBPAUD start to rotate lower from the 1.91500 resistance area, we could have a head and shoulders reversal on our hands.

Notice the left shoulder that developed last October.

The head of the pending formation was that multi-year high in December.
But to call this a head and shoulders pattern, sellers need to secure a daily close below what would be the neckline near 1.8700 or thereabouts.

Given the 9000 pip height of the pattern, a close below that 1.87000 area could open the door to the 1.78000 region.

Everyone who saw today’s members-only video knows why that 1.78000 area is significant for the pair.

Just keep in mind that there are no guarantees.

The GBPAUD uptrend is technically still intact, and without a daily close below the neckline, there is no head and shoulders reversal.

WATCH IT AND IF IT UNFOLDS DON'T HESITATE.