Potential head and shoulders formation. A fairly premature prediction admittedly, however the first peak and head are formed which makes it very likely we could be seeing a head and shoulders pattern being created. GBPEUR             has hit support twice in this timeframe and it looks like it could be heading back down to support and if it doesn’t break support by rising again a head and shoulders pattern is very likely and it would be a good opportunity to buy on support. GBPEUR             has broke resistance to emphasise a more prominent head but nothing significant as it looks like it could be heading back down.