You have two potential cypher patterns setting up on the GBPUSD. This is a great example of why I love the cypher pattern. You tend to see them more often in trending markets, then the bat or gartley patterns.
The smaller cypher in blue will potentially complete at 1.2455. Minimum stops need to be below X at 1.2420 with traditional target 1 at 1.2502 and target 2 at 1.2531.
The bigger cypher in purple will potentially complete at 1.2386. Minimum stops need to be below X at 1.2335 with traditional targets 1 at 1.2459 and 2 at 1.2502.
You can also use these as alternate entries for trend continuation. I put out a video yesterday showing how to do this. https://youtu.be/yAx-WmO_5E8
Good luck and Good trading
The smaller cypher in blue will potentially complete at 1.2455. Minimum stops need to be below X at 1.2420 with traditional target 1 at 1.2502 and target 2 at 1.2531.
The bigger cypher in purple will potentially complete at 1.2386. Minimum stops need to be below X at 1.2335 with traditional targets 1 at 1.2459 and 2 at 1.2502.
You can also use these as alternate entries for trend continuation. I put out a video yesterday showing how to do this. https://youtu.be/yAx-WmO_5E8
Good luck and Good trading