2018Oct23 GBPUSD H1 Bullish Bat

GBPUSD has been on a downtrend and completed a bullish bat. Upon confirmation of the bullish bias, I will go long for a pullback of the downtrend. Stop loss is just below the X point while the take profit target is set at the 38.2 Fibonacci retracement level of the leg AD. Trade details are as follows:

Trade Setup: Bullish Bat
Price Entry 1.29563
SL 1.29165 | SL pips 39.8
TP1 1.30715 | TP1 pips 115.2
RRR1 2.89