The GBPUSD is making an intraday H&S pattern which is nearing completion.
Considering a short opportunity.
1. Entry - price to enter the 1.2185 - 1.2215 zone. Once there looking for selling pressure to enter.
2. Stop - 1.23 = any close of candle above this invalidates a reversal.
3. Target - Close of candle for the swing low around 1.1780
RR = 4+
Time interval , if it matches the uptrend from the swing low, would be 55 bars. This would play out over the next week , at a minimum.
Considering a short opportunity.
1. Entry - price to enter the 1.2185 - 1.2215 zone. Once there looking for selling pressure to enter.
2. Stop - 1.23 = any close of candle above this invalidates a reversal.
3. Target - Close of candle for the swing low around 1.1780
RR = 4+
Time interval , if it matches the uptrend from the swing low, would be 55 bars. This would play out over the next week , at a minimum.
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