Bullish GBP/USD (4H & 1D Time Frames)

GBP/USD (4H & 1D Time Frames)

Pattern Analysis:
An Inverted Head and Shoulders pattern has been identified on the GBP/USD pair. This pattern is visible on both the 4-hour (H4) and daily (D1) time frames, indicating potential bullish momentum upon confirmation.

Key Levels:

A rectangular resistance zone has been drawn on the chart, marking the neckline of the pattern.
A breakout above this rectangle is critical for pattern validation.

Entry Strategy:

Wait for a breakout above the neckline on the 4-hour chart.
Look for a retest of the neckline or rectangle zone on lower time frames (such as the 1-hour chart).
Enter the trade after confirmation of the retest.

Target:

TP at 1.294, aligning with the measured move of the inverted head and shoulders pattern.

Note:
Monitor price action and market conditions to avoid false breakouts. Consider other confluences like volume increase.