GBPUSD Institutional Buy Setup Update (Resistance Levels Ahead)
Hello traders! Here is an update of the GBPUSD institutional buy setup. Unfortunately we did not get filled on the previous trade. Price missed our entry by 1.5 pips lol. If anyone did get long this pair just ahead of the 1.2302 support figure though, good luck to you on this trade! Very good entry with little to no draw down and maximum upside potential! Upside resistance begins at 1.2427, then 1.245, then 1.25. Watch out for these institutional resistance levels if you are long as they can push price back down.
In Other View Point – GBPUSD – Bat pattern
Bullish bat pattern formation. If it goes against me, I’ll be looking for a crab formation. In that case, it would go down to 1.2107 or so, and spike up right after.
In Another View Point – GBPUSD Short Setup
Here is probability of completion Cypher pattern. Entry oder is placed on 1,2465 here is confluence with 38,2 of swing. Stop loss above X leg. First tp is placed in the first yellow box which is around 1,2380 and second tp is placed on the second yellow box which is price around 1,2333.
In Another View Point – Potential Bearish Cypher in GBPUSD
There is potential Bearish Cyper in GBPUSD completing at 1.2466. Stop is above X, targets at 38.2 and 61.8.