GBPUSDH1: We can see there is a inverted head and shoulder formation (the blue colored zone). Potential reversal might occurs. So, I will target price might rally for a while before return back to its downtrend movement.
Target entry:
Buy limit @ 1.2985 - 1.2995
SL @ 1.2945 - 1.2950
TP 1.3050
Trade At Your Own Risk
Trade closed: stop reached
Price broke lower and hit my SL. Now is not a good time to long first.
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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.