GBPUSD – Hourly Head & Shoulders in PlaySpotting a potential head and shoulders pattern on the GBPUSD hourly chart.
I’m still waiting for confirmation before entering the trade.
Trade Setup:
Risk/Reward: 3.4
Entry: 1.34433
Stop Loss: 1.34645
Take Profit 1 (50%): 1.33822
Take Profit 2 (50%): 1.33603
On the higher time frame, price is also testing diagonal resistance — adding extra confluence to the short bias.
For now, it’s a waiting game to see if the pattern confirms.
💡 Trading Tip: Nobody knows for certain where the market will go — always predefine your risk before entering a trade.
Please note: This is not financial advice. This content is to track my trading journey and for educational purposes only.
