GBP/USD Looking for BREAK OUT !!!
Chart: GBP/USD (4 Hour)
Technical Analysis:
It is forming a CUP AND HANDLE pattern which is bullish reversal. At the moment, it is consolidating between the handle of the CUP. Its neckline is at point 1.41942. If it breaks its neckline we will see a rise in price up till 1.48020.
Risk/Reward: 1.5 R
Entry: Breakout point 1.42 ( Might be a good entry)
Target: 1.48020
Stop loss: 1.37560
If it doesn’t break the neck line. I will sit back relax No worries will look for other trading opportunity.
Thanks !
Technical Analysis:
It is forming a CUP AND HANDLE pattern which is bullish reversal. At the moment, it is consolidating between the handle of the CUP. Its neckline is at point 1.41942. If it breaks its neckline we will see a rise in price up till 1.48020.
Risk/Reward: 1.5 R
Entry: Breakout point 1.42 ( Might be a good entry)
Target: 1.48020
Stop loss: 1.37560
If it doesn’t break the neck line. I will sit back relax No worries will look for other trading opportunity.
Thanks !
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