GBP/USD: Bullish Cup and Handle Pattern on 1-Hour Time Frame

Identified a classic continuation bullish pattern, the cup and handle, on the GBP/USD pair in the 1-hour time frame.

This pattern suggests a potential upward move, providing a favourable risk-reward opportunity for traders.

Trade Setup:

Entry Point: Initiate a long position at 1.28466, the breakout level of the handle.

Stop Loss: Place a stop loss at 1.28013 to manage downside risk.

Target Price: Aim for a target price of 1.29202, based on the height of the cup pattern projected from the breakout point.

This setup aligns with our bullish outlook on GBP/USD, supported by technical indicators confirming the pattern's validity.

Monitor the trade closely for any potential shifts in market sentiment.