# GBPUSD Reversal Pattern (Apr 11, 2016) Source: https://www.tradersway.com/resources/market-info/gbpusd-reversal-pattern-apr-11-2016/ Language: en Updated: 2016-04-11 Description: Explore GBPUSD Reversal Pattern (Apr 11, 2016). GBPUSD has formed a. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding. GBPUSD has formed a head and shoulders pattern on its 4-hour time frame, suggesting a potential reversal from the previous uptrend. Price is testing the neckline around the 1.4050-1.4100 levels and a break could be enough to confirm that a downtrend is underway. The chart pattern is approximately 400 pips tall so the resulting breakdown could be of the same size, taking GBPUSD down to the 1.3700 area. However, if the neckline support holds, another bounce to the 1.4500 handle could be seen. The 100 SMA is still above the 200 SMA for now so the path of least resistance is to the upside. If a downward crossover takes place, sellers could take the upper hand. Stochastic is on the move up so buyers are taking control. Event risks for this setup include the release of UK CPI tomorrow and the BOE statement later on in the week. Data has taken a turn for the worse in the UK so there’s a strong chance that UK central bank officials might sound less upbeat. As for the US, retail sales and PPI numbers are lined up for Wednesday while Thursday has the CPI due. Headline retail sales could grow by 0.1% while core retail sales are expected to rise by 0.4%. Meanwhile, the headline and core CPI readings could show 0.2% gains. ![GBPUSD Reversal Pattern (Apr 11, 2016)] Risk appetite could still have a significant effect on this dollar pair’s price action, as traders have been pricing in Brexit concerns once more. In addition, easing biases among several central banks have increased demand for the safe-haven dollar. *By Kate Curtis from Trader’s Way* ## Structured data JSON-LD as served in the HTML version of this page. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://www.tradersway.com/resources/market-info/gbpusd-reversal-pattern-apr-11-2016/#primary", "url": "https://www.tradersway.com/resources/market-info/gbpusd-reversal-pattern-apr-11-2016/", "mainEntityOfPage": "https://www.tradersway.com/resources/market-info/gbpusd-reversal-pattern-apr-11-2016/", "headline": "GBPUSD Reversal Pattern (Apr 11, 2016)", "inLanguage": "en", "datePublished": "2016-04-11T11:37:18+00:00", "dateModified": "2016-04-11T11:37:18+00:00", "articleSection": "Market Info", "description": "Explore GBPUSD Reversal Pattern (Apr 11, 2016). GBPUSD has formed a. Trade Forex and CFDs on MT4 and MT5 with tight spreads, flexible leverage and fast funding.", "image": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/og-default.png" }, "author": { "@type": "Organization", "@id": "https://www.tradersway.com/#organization" }, "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": [ "Organization", "FinancialService" ], "@id": "https://www.tradersway.com/#organization", "name": "Trader's Way", "alternateName": "TradersWay", "legalName": "TW Corp LLC", "description": "Trader's Way is the trading brand of TW Corp LLC, a company registered in Anguilla under number A000001731. It provides online leveraged trading in forex, metals, energies, stock indices and cryptocurrencies through MetaTrader 4, MetaTrader 5 and cTrader, with Market execution, a 40% stop out level and a minimum initial deposit of 10 USD. The company holds no financial services licence and does not direct its services to residents of the United States or the United Kingdom.", "url": "https://www.tradersway.com", "foundingDate": "2011", "logo": { "@type": "ImageObject", "url": "https://www.tradersway.com/wp-content/themes/tradersway/images/logo-square-512.png" }, "address": { "@type": "PostalAddress", "streetAddress": "No. 9 Cassius Webster Building, Grace Complex", "postOfficeBoxNumber": "1330", "addressLocality": "The Valley", "postalCode": "AI-2640", "addressCountry": "AI" }, "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "email": "support@tradersway.com" }, "areaServed": "Worldwide, excluding the United States and the United Kingdom", "knowsAbout": [ "Foreign exchange trading", "Contracts for difference", "Leveraged trading", "Precious metals trading", "Energy commodities trading", "Stock index trading", "Cryptocurrency trading", "MetaTrader 4", "MetaTrader 5", "cTrader" ], "sameAs": [ "https://www.trustpilot.com/review/www.tradersway.com", "https://www.forexpeacearmy.com/forex-reviews/8129/tradersway-forex-brokers", "https://www.youtube.com/channel/UChRC072YJGlNNNYhg_0hZeA", "https://www.facebook.com/tradersway.forex.broker", "https://twitter.com/TradersWay", "https://www.instagram.com/traderswayforex/", "https://t.me/tw_eng" ], "identifier": { "@type": "PropertyValue", "propertyID": "Anguilla company registration number", "value": "A000001731" }, "location": { "@type": "Place", "address": { "@type": "PostalAddress", "streetAddress": "Radnicka 147", "addressLocality": "Valjevo", "postalCode": "14000", "addressCountry": "RS" } } }, { "@type": "WebSite", "@id": "https://www.tradersway.com/#website", "url": "https://www.tradersway.com", "name": "Trader's Way", "publisher": { "@id": "https://www.tradersway.com/#organization" } }, { "@type": "BreadcrumbList", "@id": "https://www.tradersway.com/resources/market-info/gbpusd-reversal-pattern-apr-11-2016/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://www.tradersway.com/" }, { "@type": "ListItem", "position": 2, "name": "Resources", "item": "https://www.tradersway.com/resources/" }, { "@type": "ListItem", "position": 3, "name": "Market Info", "item": "https://www.tradersway.com/resources/market-info/" }, { "@type": "ListItem", "position": 4, "name": "GBPUSD Reversal Pattern (Apr 11, 2016)", "item": "https://www.tradersway.com/resources/market-info/gbpusd-reversal-pattern-apr-11-2016/" } ] } ] } ``` ```json { "@context": "https://schema.org", "@graph": [ { "@type": "Person", "@id": "https://www.tradersway.com/#wayne-mcdonell", "name": "Wayne McDonell", "jobTitle": "Chief FX Strategist", "description": "Chief FX Strategist at Trader's Way, trading forex publicly since 2004. His analysis has appeared in the Wall Street Journal, Bloomberg Television, Fox Business, Futures Magazine and FOREX Journal Magazine. Author of \"Strategic and Tactical Forex Trading\".", "worksFor": { "@id": "https://www.tradersway.com/#organization" }, "knowsAbout": [ "Foreign exchange market", "Technical analysis", "Fundamental analysis", "Forex trading strategy" ], "sameAs": [ "https://www.youtube.com/c/tradersway" ] }, { "@id": "https://www.tradersway.com/#organization", "employee": { "@id": "https://www.tradersway.com/#wayne-mcdonell" } } ] } ```