GBPUSD first intra target hit....however we could still see a pullback, unlikely but rather let price come to me instead of chasing, looking to hop into this down wave around 1.2920. (See my prior post in this mind thread)
Entry: ๐ฏ 1.28979 Stop Loss: ๐ซ 1.28720 Take Profit 1: โ 1.29250 Take Profit 2: โ โ 1.29480
Reason:
Aligns with 61.8% Fibonacci retracement (daily chart) and strong support from a multi-swing low. Bullish divergence on 1H RSI (44 โ 52) suggests fading bearish momentum.
๐ Trade Idea 2: Intraday Sell Setup
Entry: ๐ฏ 1.29132 Stop Loss: ๐ซ 1.29390 Take Profit 1: โ 1.28840 Take Profit 2: โ โ 1.28600
Reason:
Confluence of 38.2% Fibonacci extension and descending trendline resistance (4H chart). Bearish rejection candle at 1.29132 with rising USD/CHF correlation.
GBPUSD looking for short entries, would like to see price clear an order imbalance out (orange), and retest a liquidity pocket (red), we could see a run up to the purple mitigation zone. Looking for shorts as long as that is not broken. Target #1 1.2888 Target #2 1.2860