GBP.USD - BEARISH CYPHER SETUP - 1.2474
Updated
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 1.2474 & 1.2504
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 1.2380
Stop loss would be placed above X leg structure resistance.
Target 1 - 1.2430
Target 2 - 1.2405
The price reversal zone on this pair is between 1.2474 & 1.2504
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 1.2380
Stop loss would be placed above X leg structure resistance.
Target 1 - 1.2430
Target 2 - 1.2405
Note
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.