Not a very convincing Head and Shoulders formation on the EUR/GBP but let's see... Are you waiting for the pullback to the alleged breakout line (neckline) to pull the trigger? Thanks for sharing anyway and have a pleasant weekend.
This is not head and shoulder formation. This is called : - swing up swing down swing up swing down .... formation - ranging pattern - erratic messy, neither here nor there pattern
True, but sometimes these so-so, erratic and "messy" Head and Shoulders patterns produce explosive moves! Anyway, let's see how it goes...
By the way, EUR/GBP is almost an inverse chart of GBP/CHF. This means if you don't see a valid entry formation short on the one, you might get an valid and equivalent long entry on the other. GBP/CHF generally moves about twice as many pips per day / week / month as EUR/GBP though in percentage terms their daily ATR14's are about equal. Its possible some brokers offer narrower spreads (as a percentage of price of course) on one pair than the other.