The GBP/USD pair has formed a bearish AB=CD pattern on the daily chart, signaling a potential trend reversal. After completing the C-leg retracement, price is expected to decline towards the D-point, aligning with key support levels. A confirmed rejection at resistance strengthens the bearish outlook,
Stop loss: 1.2823
Profit targets: 1.2150 and 1.1814.
This ABCD pattern strengthens the bearish trade setup, providing a structured approach to targeting downside price levels. 📉🚀
Stop loss: 1.2823
Profit targets: 1.2150 and 1.1814.
This ABCD pattern strengthens the bearish trade setup, providing a structured approach to targeting downside price levels. 📉🚀
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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.