GBPUSD

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GBPUSDGreat British Pound vs. US DollarFX:GBPUSDDanishQasimPrice had been in a bullish trend, consistently forming Higher Highs (HHs) and Higher Lows (HLs). However, the recent break of the HL resulted in a shift in market structure, with the price subsequently forming a Lower Low (LL) and Lower High (LH). Additionally, a bearish Inverted Cup and Handle pattern has formed, further supporting the potential continuation of the bearish move. Confirmation is expected upon a decisive breakout below the previously established LL. A Sell Stop order has been placed below the matured LL, with the Stop Loss positioned above the previous LH. The trade is targeting the projected Take Profit level based on the measured move of the Inverted Cup and Handle pattern.