The British Pound Dollar.

Good evening Dynamic Traders,

Tonights chart is of the GBP on a daily timeframe, and I thought I would point out some of the formations that maybe occurring which do look bearish at present, but will let you make your own minds up.

Since about June, price action has made a possible H&S formation, which has now had the neckline breached and now price could be forming a possible bearish flag whilst also currently tagging the V.I. - maybe a kiss good night !?

Price is also at he '00' figure area, albeit not a very strong one, but with the other confluences could add its part, and GetStochastics is showing a false bar to the downside.

Ther are other confluences but this could be one for the wathlist I think.

As always be sure to do your own analysis before taking any trades.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.