GBPUSD Trade Plan
Chart shows a bullish divergence between price and RSI, alongside an inverse head and shoulders pattern, indicating a potential bullish reversal.
The trade setup suggests a buy stop above the neckline at 1.27268, with a stop loss at 1.25861 (below the lower low).
Profit targets are TP1 at 1.28680 (first resistance) and TP2 at 1.30080 (higher resistance).
Ensure confirmation with a strong breakout above the neckline.
Partial profits can be taken at TP1, moving the stop loss to breakeven for a risk-free trade.
If the price closes below 1.25861, the setup is invalidated, and no entry should be made.
The trade setup suggests a buy stop above the neckline at 1.27268, with a stop loss at 1.25861 (below the lower low).
Profit targets are TP1 at 1.28680 (first resistance) and TP2 at 1.30080 (higher resistance).
Ensure confirmation with a strong breakout above the neckline.
Partial profits can be taken at TP1, moving the stop loss to breakeven for a risk-free trade.
If the price closes below 1.25861, the setup is invalidated, and no entry should be made.
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