GBP/USD: Bullish Cup and Handle Pattern on 1-Hour Time Frame
Identified a classic continuation bullish pattern, the cup and handle, on the GBP/USD pair in the 1-hour time frame.
This pattern suggests a potential upward move, providing a favourable risk-reward opportunity for traders.
Trade Setup:
Entry Point: Initiate a long position at 1.28466, the breakout level of the handle.
Stop Loss: Place a stop loss at 1.28013 to manage downside risk.
Target Price: Aim for a target price of 1.29202, based on the height of the cup pattern projected from the breakout point.
This setup aligns with our bullish outlook on GBP/USD, supported by technical indicators confirming the pattern's validity.
Monitor the trade closely for any potential shifts in market sentiment.
This pattern suggests a potential upward move, providing a favourable risk-reward opportunity for traders.
Trade Setup:
Entry Point: Initiate a long position at 1.28466, the breakout level of the handle.
Stop Loss: Place a stop loss at 1.28013 to manage downside risk.
Target Price: Aim for a target price of 1.29202, based on the height of the cup pattern projected from the breakout point.
This setup aligns with our bullish outlook on GBP/USD, supported by technical indicators confirming the pattern's validity.
Monitor the trade closely for any potential shifts in market sentiment.
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