BRITISH POUND / US DOLLAR (DOUBLE BOTTOM)

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BRITISH POUND / US DOLLAR (DOUBLE BOTTOM)Great British Pound vs. US DollarFX:GBPUSDDanishQasimMarket Structure & Trade Setup Price has been in a bearish trend, consistently forming Lower Highs (LHs) and Lower Lows (LLs). During this downtrend, a Bearish Flag continuation pattern developed and has already completed its projected move. Following the completion of the flag projection, price printed a new Higher High (HH), indicating a potential shift in market structure. This bullish development is further supported by bullish divergence on the 1H RSI and the formation of a Double Bottom bullish reversal pattern. Trade Plan A buy entry at the current market price (CMP) is considered, as the current price is also aligned with the previously identified Fair Value Gap (FVG) level, providing additional confluence for the setup. Buy Entry: CMP — at the FVG level Stop Loss: 1.32040 Take Profit: 1.34727 Target Rationale: Price may retest the earlier established support zone, which is being used as the potential profit-taking level. The setup should be managed with strict risk control, particularly as the market transitions from the previous bearish structure toward a potential bullish reversal.