GBPUSD is heading towards Reversal Zone
After price broke higher the structure zone, now GBPUSD is heading towards the reversal zone on 1H.
Reversal Zone is formed by:
1.414 Fibo Extension from the current structure Low to local high
1.618 FIbo Inversion
0.618 Fibo Retracement
Structure to the left (purple one)
You can enter aggressively on that structure trading opportunity or your entry rules - LLLC, Double Top(don't forget the RSI) and so on.
Stops above the structure (purple one), the target will be a retest of the Structure Low.
Good luck
Reversal Zone is formed by:
1.414 Fibo Extension from the current structure Low to local high
1.618 FIbo Inversion
0.618 Fibo Retracement
Structure to the left (purple one)
You can enter aggressively on that structure trading opportunity or your entry rules - LLLC, Double Top(don't forget the RSI) and so on.
Stops above the structure (purple one), the target will be a retest of the Structure Low.
Good luck