{"id":21742,"date":"2011-06-16T05:39:59","date_gmt":"2011-06-16T09:39:59","guid":{"rendered":"http:\/\/www.forexyard.com\/blog\/en\/?p=14676"},"modified":"2011-06-16T05:39:59","modified_gmt":"2011-06-16T09:39:59","slug":"gbpusd-head-and-shoulders-chart-pattern","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/06\/16\/gbpusd-head-and-shoulders-chart-pattern\/","title":{"rendered":"GBP\/USD \u2013 Head and Shoulders Chart Pattern"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/profile-pics\/9.jpg\" width=\"120\"  alt=\"printprofile\" \/><\/p>\n<p>The daily chart for the GBP\/USD shows a potential head and shoulders reversal pattern.<\/p>\n<p><span id=\"more-14676\"><\/span>After falling from 1.6750 in April and the subsequent recovery in late May cable is currently testing the neckline of a head and shoulders chart pattern. Today the neckline comes in at 1.6100. A breach at this level and a measured move from the chart pattern could take the GBP\/USD lower to 1.5370. The likeliest target on the charts is the December low at 1.5350. <\/p>\n<p>While this level may seem far off, judging by the <a href=\"http:\/\/www.forexyard.com\/blog\/en\/2011\/06\/10\/sterling-beginning-to-weaken\/\">fundamentals<\/a> and the price action over the past two days the move may not seem to unreasonable. <\/p>\n<p>Read more forex trading news on our <a href=\"http:\/\/www.forexyard.com\/blog\/en\/\">forex blog<\/a>.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.forexyard.com\/blog\/en\/wp-content\/uploads\/2011\/06\/GBPUSD_Daily.jpg\" alt=\"GBPUSD_Daily\" title=\"GBPUSD_Daily\" width=\"768\" height=\"614\" class=\"alignnone size-full wp-image-14677\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p> The daily chart for the GBP\/USD shows a potential head and shoulders reversal pattern.<br \/>\nAfter falling from 1.6750 in April and the subsequent recovery in late May cable is currently testing the neckline of a head and shoulders chart pattern. Today the &#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-21742","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=21742"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/21742\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=21742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=21742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=21742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}