@freedune on GBPUSD | PriceONN Community
Potential long setup brewing on GBPUSD, observing a possible inverse head and shoulders pattern forming on the hourly chart. Neckline around 1.3525. A break above this level, coupled with strong volume, could signal a decent buying opportunity. I'm planning to enter a position with a tight stop loss just below the right shoulder, targeting a take profit near the next resistance level around 1.3550. Risk-reward ratio looks favorable. Will be keeping a close eye on the news releases as well, particularly any UK economic data that could impact the pound. Always manage your risk!