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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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.