5-0 Pattern
GBP/USD on 1H Chart Formating 5-0 Pattern as 0 insted of X, X insted of A, A insted of B, B insted of C & C insted of D which Occurs @ Fibo. 1.11% of 0X Leg 1.6820.
The Pair is moveing towards Fibo. 50% of BC (CD) leg 1.6685 & may Extened the targets to Fibo 61.8% before makeing "D" Point (PRZ) in this Area, As will check for reversal sign's to confirm that it's 0-5 Pattern by confirmation on "D" Point (Potential Reversal Zone).
Otherwise, if the pair contniue it's falling journey & breakout the potential trendline "X" Point, "B" Point we may trace the price level by level regards to Fibonacci Retracment Levels,
While if the Pair reverse from Fibo. 50% or Max Fibo. 61.8% of BC (CD) leg, Targets are open till 423% of BC (CD) Leg & you may Buy the pair till 1.7286.
The Pair is moveing towards Fibo. 50% of BC (CD) leg 1.6685 & may Extened the targets to Fibo 61.8% before makeing "D" Point (PRZ) in this Area, As will check for reversal sign's to confirm that it's 0-5 Pattern by confirmation on "D" Point (Potential Reversal Zone).
Otherwise, if the pair contniue it's falling journey & breakout the potential trendline "X" Point, "B" Point we may trace the price level by level regards to Fibonacci Retracment Levels,
While if the Pair reverse from Fibo. 50% or Max Fibo. 61.8% of BC (CD) leg, Targets are open till 423% of BC (CD) Leg & you may Buy the pair till 1.7286.
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.