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TradeChartPatternsLikeThePros

GBPUSD PRICE ACTION TRADING INV. HEAD & SHOULDERS

Long
British Pound / U.S. Dollar (FOREXCOM:GBPUSD)  
TradeChartPatternsLikeThePros  
FOREXCOM:GBPUSD   British Pound / U.S. Dollar
Chart Patterns Head and Shoulders headnandshoulders tradechartpatternslikethepros Contains image
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Hello traders! Today, we're diving deep into GBPUSD, which is showcasing a promising trading opportunity.

On its daily chart, GBPUSD has carved out a classic price action reversal pattern: the inverse head and shoulders.

Following a decisive break above the neckline at 1.24340, the price retraced to 1.25913. Capitalizing on this momentum, we've placed our long orders at 1.26551, influenced by a diamond bottom formation. With meticulous entry points and tight stop-loss measures, we've set our sights on targets at 38%: 1.32521 and 62%: 1.37530.

For a comprehensive visual representation, check out the charts here:
🔗 View GBPUSD Chart 1
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🔗 View GBPUSD Chart 2
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🔗 View GBPUSD Chart 3
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🔗 View GBPUSD Chart 4
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Stay tuned, traders! In the coming days, we'll be unveiling a plethora of setups.

If you find this analysis valuable, please support the idea with a like and consider following for more insights.

Trade Carefully, Profit Wisely (TCPLTP)!

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