TomHall
Short

GBP.USD - BEARISH CYPHER SETUP - 1.2297

FX:GBPUSD   British Pound / U.S. Dollar
On the GBP.USD 1hr chart we have a potential short opportunity's at the D leg completion of bearish Cypher setup.

The price reversal zone on this pair is between 1.2297 & 1.2331
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.

Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.2192
Stop loss would be placed above X leg structure resistance .

Target 1 - 1.2249
Target 2 - 1.2218
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the cypher looks like a good setup given the overall bearish nature of this pair :) good one mate!
+1 Reply
TomHall Antilogs
Thanks very much for the message.
Have a great week.
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