GBP/USD on 1H Chart Formating 5-0 Pattern as 0 insted of X, X insted of A, A insted of B, B insted of C & C insted of D which Occurs @ Fibo. 1.11% of 0X Leg 1.6820.
The Pair is moveing towards Fibo. 50% of BC (CD) leg 1.6685 & may Extened the targets to Fibo 61.8% before makeing "D" Point (PRZ) in this Area, As will check for reversal sign's to confirm that it's 0-5 Pattern by confirmation on "D" Point (Potential Reversal Zone).
Otherwise, if the pair contniue it's falling journey & breakout the potential trendline "X" Point, "B" Point we may trace the price level by level regards to Fibonacci Retracment Levels,
While if the Pair reverse from Fibo. 50% or Max Fibo. 61.8% of BC (CD) leg, Targets are open till 423% of BC (CD) Leg & you may Buy the pair till 1.7286.
The Pair is moveing towards Fibo. 50% of BC (CD) leg 1.6685 & may Extened the targets to Fibo 61.8% before makeing "D" Point (PRZ) in this Area, As will check for reversal sign's to confirm that it's 0-5 Pattern by confirmation on "D" Point (Potential Reversal Zone).
Otherwise, if the pair contniue it's falling journey & breakout the potential trendline "X" Point, "B" Point we may trace the price level by level regards to Fibonacci Retracment Levels,
While if the Pair reverse from Fibo. 50% or Max Fibo. 61.8% of BC (CD) leg, Targets are open till 423% of BC (CD) Leg & you may Buy the pair till 1.7286.