GBP/USD : How Tops are Formed

• Just ONE possible way in which a market tops out. Stress on "ONE" of a multitude of scenarios.
• Last 1.6600
  
• Weekly : 1. UpTL (bold blue) broken at 1.6442 4 weeks ago. 2. Post-TL break low 1.6110. 3. Pullback towards TL. High of 1.6742. This coincides with the high of 1.6744 on 30Jun09. 4. The whole pattern looks like a possible SHS top in the making. NL (bold pink) now at 1.6144 this week. MUST SELL on a break here.
  
• Monthly : Possible evening star in the making. Imagine the damage to the monthly by the time the weekly breaks the NL.
• Will not be an easy trade. Expect the battle between bulls and bears to go on for a while.