Potential Long on the GBPUSD cross. A bullish H&S and an ABCD confirmation pattern on the 4hr. chart with:
* entry level 1.417 - 1.421
* SL on the invalidation of the ABCD model=below "C" (1.4087)
* Target 1: 1.450
* Target 2 (H&S target): 1.510
R/R: 3.34 to Target 1
9.73 to Target 2
* entry level 1.417 - 1.421
* SL on the invalidation of the ABCD model=below "C" (1.4087)
* Target 1: 1.450
* Target 2 (H&S target): 1.510
R/R: 3.34 to Target 1
9.73 to Target 2
Note
Price has reached the neckline. There could be a retest of the 1.4306 area, but not necessarily.
Target 1 @ 1.45
Note
Price broke the neckline... towards Target 1...
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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.