Bullish GBP/USD (4H & 1D Time Frames)
GBP/USD (4H & 1D Time Frames)
Pattern Analysis:
An Inverted Head and Shoulders pattern has been identified on the GBP/USD pair. This pattern is visible on both the 4-hour (H4) and daily (D1) time frames, indicating potential bullish momentum upon confirmation.
Key Levels:
A rectangular resistance zone has been drawn on the chart, marking the neckline of the pattern.
A breakout above this rectangle is critical for pattern validation.
Entry Strategy:
Wait for a breakout above the neckline on the 4-hour chart.
Look for a retest of the neckline or rectangle zone on lower time frames (such as the 1-hour chart).
Enter the trade after confirmation of the retest.
Target:
TP at 1.294, aligning with the measured move of the inverted head and shoulders pattern.
Note:
Monitor price action and market conditions to avoid false breakouts. Consider other confluences like volume increase.
Pattern Analysis:
An Inverted Head and Shoulders pattern has been identified on the GBP/USD pair. This pattern is visible on both the 4-hour (H4) and daily (D1) time frames, indicating potential bullish momentum upon confirmation.
Key Levels:
A rectangular resistance zone has been drawn on the chart, marking the neckline of the pattern.
A breakout above this rectangle is critical for pattern validation.
Entry Strategy:
Wait for a breakout above the neckline on the 4-hour chart.
Look for a retest of the neckline or rectangle zone on lower time frames (such as the 1-hour chart).
Enter the trade after confirmation of the retest.
Target:
TP at 1.294, aligning with the measured move of the inverted head and shoulders pattern.
Note:
Monitor price action and market conditions to avoid false breakouts. Consider other confluences like volume increase.
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.