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HayatoDragonFX

GBPUSD, 4hr tf, Bearish cypher pattern could be in play

Short
British Pound / U.S. Dollar (FX:GBPUSD)  
HayatoDragonFX  
FX:GBPUSD   British Pound / U.S. Dollar
Trend Analysis Harmonic Patterns Chart Patterns GBPUSD gbpusdshort Bearish Cypher gbpusdsignal gbpusdanalysis gbpusdtrade
7
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trendanalysis harmonicpatterns chartpattern gbpusd gbpusdshort bearishcypher gbpusdsignal gbpusdanalysis gbpusdtrade
Based on the 4hr timeframe, I spotted a potential bearish cypher patern on GBPUSD.
Price was rejeted from 1.2665-1.2630 area for 3 times and today we saw price touching this area again

Since this sell position offering a nice 1:5 RR ratio, i think it is worh to try it.

Also cypher pattern is one of the most reliable harmonic pattern so i am going to sell GBPUSD from this point

Sell GBPUSD 1.2630
Stop loss 1.2700
Take profit 1 @ 1.2515
Take profit 2 @ 1.2400
Take profit 3 @ 1.2270

good luck
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