Bullish GBP/USD (4H & 1D Time Frames)
GBP/USD (4H & 1D Time Frames)
Pattern Analysis:
An Inverted Head and Shoulders pattern has been identified on the GBP/USD pair. This pattern is visible on both the 4-hour (H4) and daily (D1) time frames, indicating potential bullish momentum upon confirmation.
Key Levels:
A rectangular resistance zone has been drawn on the chart, marking the neckline of the pattern.
A breakout above this rectangle is critical for pattern validation.
Entry Strategy:
Wait for a breakout above the neckline on the 4-hour chart.
Look for a retest of the neckline or rectangle zone on lower time frames (such as the 1-hour chart).
Enter the trade after confirmation of the retest.
Target:
TP at 1.294, aligning with the measured move of the inverted head and shoulders pattern.
Note:
Monitor price action and market conditions to avoid false breakouts. Consider other confluences like volume increase.
Pattern Analysis:
An Inverted Head and Shoulders pattern has been identified on the GBP/USD pair. This pattern is visible on both the 4-hour (H4) and daily (D1) time frames, indicating potential bullish momentum upon confirmation.
Key Levels:
A rectangular resistance zone has been drawn on the chart, marking the neckline of the pattern.
A breakout above this rectangle is critical for pattern validation.
Entry Strategy:
Wait for a breakout above the neckline on the 4-hour chart.
Look for a retest of the neckline or rectangle zone on lower time frames (such as the 1-hour chart).
Enter the trade after confirmation of the retest.
Target:
TP at 1.294, aligning with the measured move of the inverted head and shoulders pattern.
Note:
Monitor price action and market conditions to avoid false breakouts. Consider other confluences like volume increase.
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