GBPUSD has formed an inverted head and shoulders on the H1 timeframe and is heading towards last week Friday's peak. Within this formation, a bearish AB=CD pattern coincides with the hesitation zone. PRZ tips suggest that a convergence of Fibonacci numbers and specific price patterns provides a highly probable area for a reversal. The PRZ aligns with the Hesitation Zone, which is a valid resistance point, so price may face strong resistance.
Trade active:
Spiked towards the ab=cd pattern
Trade closed: target reached:
Spiked back down to my take profit, total of pips 140 within one hour!!!