EUR.GBP - Bearish Cypher Setup - .8700
On the EUR.GBP 1hr chart we have a potential short opportunity at the D leg completion of bearish Cypher setup.
The price reversal zone on this pair is between .8700 & .8726
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around .8620
Stop loss would be placed above X leg structure resistance .
Target 1 - .8663
Target 2 - .8641
The price reversal zone on this pair is between .8700 & .8726
The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Cypher setup placed at the .382% and .618% retracement of the C to D move.
There is also opportunity to look for extended targets at around .8620
Stop loss would be placed above X leg structure resistance .
Target 1 - .8663
Target 2 - .8641
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Daily outlook.
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If you entered at .8700 your target 1 and 2 should be attained.