Expecting GBP to fail the current resistance level with a head and shoulders, at a retest of the rising wedge support level. This move could set up a possible cup and handle entry for a second test of the 1.256 level. This lines up well with what would be the .50 retracement level.
Happy Trading.
Happy Trading.
Trade active:
Head and shoulders played out as expected. second peak did not reach as high as i planned. Good place for entry would have been break of neckline. looking to exit trade just before the .50 retracement.
Trade closed: target reached:
Target Reached.
Let the algo show you its hand.