TomHall

GBP/USD - Cypher Pattern

FX:GBPUSD   British Pound/U.S. Dollar
256 0 9
Here on the 4h chart of GBP/USD             we have a potential long opportunity.

As you can see price on the 4h is falling into strong structure support, which if broken should indicate a push lower to a D leg completion.

Depending on your trading plan and style, you could sell at the break of the B leg support level in anticipation that price will rally to the D leg of the Cypher Pattern .
A more conservative approach would be to await price to complete at the D leg of the Cypher Pattern before getting long.

I feel both the aggressive and conservative approach are plausible, but always trade your plan.

Anymore information don't hesitate to contact me.

Have a great trading week.
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