GBP.USD - BEARISH CYPHER SETUP - 1.2480
On the GBP.USD 1hr chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between 1.2480 & 1.2511
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 1.2373
Stop loss would be placed above X leg structure resistance.
Target 1 - 1.2432
Target 2 - 1.2404
The price reversal zone on this pair is between 1.2480 & 1.2511
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 1.2373
Stop loss would be placed above X leg structure resistance.
Target 1 - 1.2432
Target 2 - 1.2404
Comment:
GBP.USD - D leg now complete at 1.2480
Comment:
Target 1 at 1.2432 should you have got short at 1.2480
Comment:
Long opportunity at the break above 1.2540