GBPUSD has confirmed a classic Inverted Head & Shoulders pattern, signaling a strong bullish reversal opportunity on the 2-hour chart. Price has successfully broken above the neckline resistance zone (~1.3490) and has now retested that zone, forming a bullish engulfing candle — an ideal confirmation for long entries.
🟢 Trade Plan:
🎯 Target Levels:
These levels align with structure resistance and measured move of the pattern
📌 Why This Trade Matters:
This is a textbook reversal play, offering solid structure, clear stop placement, and attractive upside. Perfect for swing traders or short-term position setups.
📉 Trade what you see, not what you think. Let price action lead your execution.
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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🟢 Trade Plan:
- Entry: After bullish engulfing candle formed on neckline retest (~1.3490–1.3500)
- Stop Loss: Just below the right shoulder low / retest swing low (~1.3455)
- Risk/Reward Ratio: ~4:1 (High reward with tightly controlled risk)
🎯 Target Levels:
- Target 1: 1.3555
- Final Target (Projected): 1.3620
These levels align with structure resistance and measured move of the pattern
📌 Why This Trade Matters:
- Pattern confirmed ✅
- Retest successful ✅
- Bullish confirmation candle ✅
- Clean invalidation and upside potential ✅
This is a textbook reversal play, offering solid structure, clear stop placement, and attractive upside. Perfect for swing traders or short-term position setups.
📉 Trade what you see, not what you think. Let price action lead your execution.
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Disclosure: I am part of Trade Nation's Influencer program and receive a monthly fee for using their TradingView charts in my analysis.
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📈 Trade Smarter with TradZoo!
🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📲 Android App: bit.ly/TradZooApp
📲 Forex App:tradzoo.com/forex/download
🍎 iOS App: bit.ly/TradZoo-iOS-App
🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📲 Android App: bit.ly/TradZooApp
📲 Forex App:tradzoo.com/forex/download
🍎 iOS App: bit.ly/TradZoo-iOS-App
Related publications
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.