Cable forms bullish Cypher pattern, good to buy at dips

FX:GBPUSD   British Pound / U.S. Dollar
671 3 7
Harmonic Pattern Formed- Bullish Cypher pattern

Potential Reversal Zone (PRZ)- 1.5078

Cable has declined till 1.5100 after breaking minor support 1.5150. It is currently trading at 1.51233.

Any break below 1.5050 will drag the pair till 1.5029/1.5000. The pair's minor support is around 1.5090.

On the higher minor resistance is around 1.5160 and break above targets 1.5190/1.5220 (support turned into resistance)

It is good to buy at dips around 1.5085-90 with SL around 1.5050 for the TP of 1.5160/1.5220.
If you are going long, you could have bought much lower near 1.5055 (S2 daily support, S1 was at 1.50889), where you could have got a better price. Don't you think price may fall further to 1.5026? Thanks
Hello nice call. But your model becomes invalid only if price reaches X, so why is SL at 1.5050 ? Thanks,
FxWirePro Nicemate
I gave stop loss at 88.6%
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