On the GBP.USD 1hr chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between 1.2474 & 1.2504
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.2380
Stop loss would be placed above X leg structure resistance.
Target 1 - 1.2430
Target 2 - 1.2405
The price reversal zone on this pair is between 1.2474 & 1.2504
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around 1.2380
Stop loss would be placed above X leg structure resistance.
Target 1 - 1.2430
Target 2 - 1.2405
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